Smartphone firm’s flotation could be world’s largest initial public offering in years valuing company at $100bn

The Chinese smartphone maker Xiaomi is reportedly seeking to raise at least $10bn by floating on the Hong Kong stock exchange, in what could be one of the world’s biggest initial public offerings in years.

The IPO, announced in stock exchange filings on Thursday, may be the largest since 2014 when the e-commerce giant Alibaba listed in New York, raising $25bn.

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