China's Xiaomi secures 7 cornerstone investors including Qualcomm for $6.1b IPO

China's Xiaomi secures 7 cornerstone investors including Qualcomm for $6.1b IPO

A "MI" logo stands outside the main entrance of the Xiaomi Corp. headquarters in Beijing, China. Photographer: Edmond Lococo/Bloomberg

Chinese smartphone maker Xiaomi Corp has lined up $548 million from seven cornerstone investors including U.S. chipmaker Qualcomm Inc for its Hong Kong IPO of up to $6.1 billion, according to a term sheet seen by Reuters.

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