Sources close to Xiaomi’s senior executives are claiming that Xiaomi has decided to set its IPO for the second part of 2018 with the exact month still unknown, according to Pheonix News (in Chinese). The company is due to be listed in Hong Kong, sources said. Xiaomi’s founder Lei Jun expects the valuation will reach a whopping $200 billion and the target has been approved by an investment bank, the report states.

TechNode’s Chinese sister site has reached out to Xiaomi which has responded with “no comment.”

Xiaomi’s IPO is one of the most anticipated IPO’s in 2018 setting off wide speculation on the possible numbers. If the company’s valuation does reach $200 billion, it will be more than two times higher than Baidu’s current valuation which, according to NASDAQ, amounted to $85 billion at 3 pm Beijing time today.

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Masha Borak

Masha Borak is a technology reporter based in Beijing. Write to her at masha.borak [at] technode.com. Pitches with the word "disruptive" will be ignored. Read a good book - learn some more adjectives.