Xiaomi, the Chinese smartphone maker, has appointed Goldman Sachs and Morgan Stanley to lead a flotation later this year, which could value the group as high as $100bn in the biggest tech IPO since Alibaba floated in New York in 2014.
The Beijing-based company has selected the two global banks to lead a public sale of shares, which will probably be in either Hong Kong or New York, according to two people close to the plans.
The IPO could value the group at up to $100bn, according to people familiar with the listing plans, which would make it the sixth largest company on the Hong Kong stock exchange by market capitalisation behind AIA, the insurance group.
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