Retail investors shun Xiaomi IPO

Lack of enthusiasm casting a shadow over would-be blockbuster HK listing

A lukewarm response from retail investors is casting a shadow over technology juggernaut Xiaomi's IPO in Hong Kong, a setback that could apply a sudden brake on the city-wide 'New Economy' IPO spree in the months ahead.

Although subscribed by Chinese magnates such as Li Ka-shing, Jack Ma Yun, Pony Ma Huateng and Cai Wensheng, Xiaomi's blockbuster IPO was given the cold shoulder by retail investors.