<Editor's Pick>How did Lei Jun make his Xiaomi the youngest company on Fortune Global 500 list?

Aug 07, 2019 Xiaomi OPPO vivo

The commercial giant Musk once regarded the listing as a Faustian-style soul trading. Lei Jun, the core figure of the Chinese Internet, just completed a deal with his Faust. Xiaomi, which was founded 8 years ago, officially became a public company on July 9.

Shares of Xiaomi stumbled on their debut in Hong Kong, opening for trade down more than 2 percent and slipping as much as 5.88 percent during the session. That came after a disappointing pricing and a listing delay in mainland China. At the beginning of the celebration banquet, Lei Jun said it was not unexpected.

How much is Xiaomi worth? In the past six months, the number corresponding to this issue has always been discussed, from the rumored tens of billions of dollars at the high level to the $47.9 billion at the close of the first day. It turns out that the capital market is cruel.

At the end of 2017, Lei Jun was asked about the listing when he was interviewed. He was very alert and did not answer the question positively. He only said, “I don’t care it because I have rung the bell many times.” Not long after that interview, the market rumored that Xiaomi would seek a listing with a valuation of 200 billion US dollars.

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