Exclusive: China's Xiaomi cuts valuation after pulling mainland offering: sources
HONG KONG/SHANGHAI (Reuters/IFR) - Chinese smartphone maker Xiaomi has lowered its likely valuation to between US$55 billion and US$70 billion following its decision to delay its mainland share offering until after its Hong Kong IPO, three sources with direct knowledge of the matter said.
KUALA LUMPUR (Sept 25): The FBM KLCI pared some of its loss at midday break today, against a backdrop of struggling regional markets.
At 12.30pm, the FBM KLCI was down 2.57 points to 1,797.60. The index had earlier slipped to its intra-morning low of 1,797.15.
Losers led gainers by 337 to 311, while 1,250 counters traded unchanged. Volume was 988.24 million shares, valued at RM703.56 million.
KUALA LUMPUR (Sept 24): Shares of Hibiscus Petroleum Bhd and Petronas Gas Bhd (PetGas) rose today as crude oil prices advanced with the deadline for US sanctions on Iranian oil drawing nearer.
At 4.10pm, Hibiscus Petroleum was up five sen or 4.67% at RM1.12 while PetGas was up six sen or 0.32% at RM19.06.
Hibiscus Petroleum was also the most actively traded stock on Bursa Malaysia with 82.22 million shares traded.