Xiaomi’s smart wearable device partner Huami raises $110 million in public offering

Huami, a smart wearable device maker for Chinese smartphone unicorn Xiaomi, has officially been listed on New York Stock Exchange (NYSE) under the ticker symbol “HMI,” and has raised $110 million by offering 10 million shares at $11, the mid-point of the planned price range of $10-$12. This comes a few days after the CEO of Xiaomi declared the company will be the domestic market’s number one in 2.5 years.

Founded in 2013, Beijing-based Huami shipped 11.6 million units of smart wearable devices in the first nine months of 2017, according to its F1 foreign prospectus filing with the Securities & Exchange Commission. As of September 30, 2017, Huami had shipped a total of 45.3 million devices since its inception in 2013.

It’s worth noting that Huami this week rolled out its latest smartwatch Amazfit Bip, featuring more than 30 days of battery life with regular use, and up to 45 days with minimal notifications, on a single charge. Also, Huami has been the sole partner of Xiaomi—an aspiring unicorn firm that makes smartphones and consumer electronics goods—to design and manufacture Xiaomi wearable products under the Mi brand.

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