Xiaomi attempts to raise $ 5.3 billion to finance its expansion in electric cars

Xiaomi plans to sell shares in the $ 5.3 billion market, utilizing its share price to raise the money needed to expand its company in the field of electric cars. Details of the share offer in the market and its headquarters in Beijing, the sale of 750 million shares at a price of between 52.80 and $ 54.60 Hong Kong per share, according to the terms of the agreement, seen by “Bloomberg”. This price represents a 4.2% and 7.4% discount compared to the last closure of the share in Hong Kong. The company invests a lot in its emerging business in the field of electric cars to promote the growth wheel. ‘Xiaomi’ recently increased its goal of delivering electric cars for 2025 after registering it the fastest growth in revenue since 2021. As part of its efforts to increase production, the company, based in Beijing, works to expand the size of its second factory planned for electric cars in the Chinese capital, according to ‘Bloomberg’. Xiaomi Investments in Electric Cars, co -founder, billionaire Lee John, said in 2021 that the company plans to invest $ 10 billion in electric cars in the next decade. The price of “Xiaomi” rose more than three times the lowest level in August, making it one of the most expensive technology stocks in China. The company has attracted investors by repeating its success in the field of smartphones in the active electric car market in China. Xiaomi intends to use returns on stock sales to accelerate the expansion of its business and invest in research and development to develop technological abilities, according to the conditions. ‘Xiaomi’ has sold its equity weeks after the Chinese company ‘Byd’ for the electric automotive industry, 5.6 billion in the largest sale of shares in Hong Kong for nearly four years, which strengthened expectations for recovering the activity of capital markets in the Asian financial center. Banks are involved in completing the stock sale, including “Goldman Sachs” and “China International Capital”.