Xiaomi offers HK return to riches

Smartphone manufacturer may make $10b in world's biggest IPO since 2014

Chinese mainland smartphone maker Xiaomi filed an application for its highly anticipated Hong Kong initial public offering on Thursday, in what could become the world's biggest flotation since 2014 and the very first listing under the city's new dual-class share system.

Xiaomi, the world's fourth-largest smartphone maker by shipments, timed its blockbuster offering with the financial center's new weighted voting rights system that took effect from Monday.