The Xiaomi Mi 9T smartphone. The biggest maker of smartphones in China said it will buy back no more than 10 per cent of the company’s stake in the secondary market. Photo: SCMP Handout
Smartphone giant Xiaomi to spend US$1.5 billion in biggest shares buy-back of the year as it joins Li Ka-shing in growing wave of repurchases
- The Chinese company said it will buy back up to a tenth of its shares for as much as HK$12 billion (US$1.53 billion)
- Hong Kong-listed companies have spent at least HK$478 million buying back their own shares as the city’s worst civic unrest in decades batters stocks
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Xiaomi
The Xiaomi Mi 9T smartphone. The biggest maker of smartphones in China said it will buy back no more than 10 per cent of the company’s stake in the secondary market. Photo: SCMP Handout