Smartphone maker Xiaomi's shares set to open down 2.4 percent in HK debut

HONG KONG (Reuters) – Chinese smartphone maker Xiaomi Corp’s (1810.HK) shares are set to open down 2.4 percent on debut in Hong Kong on Monday, in a blow to investor sentiment for the tech sector as a raft of peers line up their own listings in the city.

Xiaomi founder, Chairman and CEO Lei Jun (L) and CFO Shou Zi Chew attend the listing of the company at the Hong Kong Exchanges in Hong Kong, China July 9, 2018. REUTERS/Bobby Yip

Xiaomi priced its Hong Kong initial public offering (IPO) at the bottom of an indicative range, raising $4.72 billion in the world’s biggest tech float in four years.

The shares were set to open at HK$16.60 on Monday.

Reporting by Julie Zhu; Writing by Sumeet Chatterjee; Editing by Muralikumar Anantharaman

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