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Xiaomi chairman and CEO Lei Jun. Photo by Bloomberg
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Asia

The China Tech Companies Headed for IPOs in U.S and Hong Kong

Photo: Xiaomi chairman and CEO Lei Jun. Photo by Bloomberg

This is shaping up to a banner year for Chinese tech companies going public on overseas stock markets, bankers say. At least nine firms have announced plans to go public in either the U.S. or Hong Kong, aiming to raise at least $3 billion total. An additional 30 with valuations of at least $1 billion are in the pipeline. In contrast, just 13 tech companies went public outside China last year, according to Dealogic.

Below, we have highlighted some of the biggest expected deals. Among them: smartphone maker Xiaomi, which is expected to go public in the second half with a valuation that could reach as high as $100 billion, bankers say. Nearly as big will be the market debut of online wealth management platform Lufax, backed by Chinese insurance giant Ping An, which is seeking a valuation of $60 billion. These deals will compete for attention with some high-profile U.S. tech firms that have confirmed their intention to go public, including Dropbox and Spotify.

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