China's Xiaomi to raise up to $5.27bn from share sale

Company began making EVs last year, and is selling 750 million shares

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Xiaomi is selling 750 million Class B shares; price range represents a 4.2-7.4% discount to the company's HK$57 closing price on March 24. © Reuters

SYDNEY (Reuters) -- Chinese smartphone and EV maker Xiaomi Corp is raising up to $5.27 billion in a top-up placement on Monday, according to a term sheet seen by Reuters.

The shares are being sold in a HK$52.80 to HK$54.60 price range, the term sheet said.

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