Billionaire trio Li Ka-Shing, Jack and Pony Ma grab a slice of Xiaomi’s IPO

Billionaire trio Li Ka-Shing, Jack and Pony Ma grab a slice of Xiaomi’s IPO

The Xiaomi Corp. Mi MIX 2S smartphone sits on display at an unveiling event in Shanghai, China, on Tuesday, March 27, 2018. Xiaomi unveiled its latest top-tier smartphone to bring the fight to Apple and Samsung, as the Chinese startup readies a highly anticipated initial public offering. Photographer: Qilai Shen/Bloomberg Photo by Bloomberg

China’s richest people are buying into Xiaomi Corp.’s imminent Hong Kong initial public offering, conferring their imprimatur on the world’s biggest coming-out party in two years.

Former CK Hutchison Holdings Ltd. Chairman Li Ka-shing, known in the former British colony as “superman” for his business acumen, plans to invest $30 million for an unknown slice of the Chinese smartphone maker, according to people familiar with the matter. Alibaba founder Jack Ma and Tencent Chairman Pony Ma — the country’s two richest persons — have also agreed to take stakes in Xiaomi, said the people, who asked not to be identified discussing personal investments.

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