HK eyes blockbuster China tech IPO queue, led by Xiaomi

Hong Kong

BANKERS in Hong Kong are eyeing a slew of blockbuster IPOs from Chinese technology firms with a total market capitalisation of some US$500 billion over the next two years - a sharp contrast to 2017, the city's worst year for raising equity in a decade.

If bankers' expectations are met, it would set up Hong Kong for a showdown with New York, the traditional host for the world's hottest new-economy companies and Hong Kong's closest rival for the global IPO crown.

Companies such as smartphone maker Xiaomi and wealth management platform Lufax are among those mulling multi-billion dollar listings in Hong Kong next year, encouraged by a lat…