By Chris Gallagher
After the transactions, the stake held by SoftBank Group and its units will rise to 48.17% from 42.95% now, and Altaba will have about 27%.
The move was expected after the conglomerate said this year it was making preparations for a listing.
Xiaomi shares closed at HK$16.80, having touched a low of HK$16 in early trade, compared to the IPO price of HK$17 per share.
F&N Dairy Investments, owned by Thai billionaire Charoen Sirivadhanabhakdi, is expected to shell out over VND2.3 trillion ($101.2 million) to increase its stake in Vinamilk.
The outlook is bullish for the rest of the year as well, with 50 companies—including HDFC Mutual Fund, Lodha Developers and Rail Vikas Nigam—expected to launch their initial share sales.
Experts predict a faster equitization process in the second half of the year but it will be difficult to meet the government’s annual target.
Tencent Music Entertainment Group has picked banks to advise on a planned initial public offering in the U.S. that could raise at least $1 billion.
China Evergrande Group, China Vanke and Country Garden Holdings are the other three cornerstone investors, each owning 15% of the company prior to the planned deal.
The Japanese pharma player has proposed to purchase an additional 7.06 per cent stake in the Vietnamese firm.
The company’s public listing is a part of Saudi Arabia’s plan to open its economy but a senior Aramco executive told the WSJ that “everyone is almost certain it (IPO) is not going to happen”.