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Xiaomi call warrants to start trading on SGX on July 9

THREE new call warrants on Xiaomi Corporation issued by Macquarie Bank will start trading on the Singapore Exchange (SGX) on July 9, alongside Xiaomi's initial public offering (IPO) on the Hong Kong Stock Exchange.

The Xiaomi warrants – to be listed on SGX and traded in Singapore dollars – will track the moves in Xiaomi shares. Their market-making hours will follow the trading hours on the Hong Kong Stock Exchange from 9.30am to 4pm, with a break from 12-1pm.

They will have a strike price of HK$20, $24 and $30 respectively, and the same expiry date of Feb 4, 2019.

Xiaomi Corporation is a mobile Internet company headquartered in Beijing and is the fourth-largest smartphone manufacturer globally, according to the prospectus.

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Xiaomi's IPO is expected to raise around US$4.7 billion, with the sale priced at 2.18 billion shares at HK$17 each. This was priced at the lower end of the HK$17-22 range and its retail tranche was oversubscribed by 8.5 times.

Cornerstone investors include Qualcomm, SF Express, China Mobile, CICFH Entertainment and China Merchants Group.

The IPO is the largest listing in the technology sector since Alibaba, which raised US$25 billion in its 2014 New York IPO.