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<Research>Citi: XIAOMI-W (01810.HK) Shr Placement Puts ST Pressure on Shr Price, But Favors LT Development
Recommend 33 Positive 54 Negative 26 |
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XIAOMI-W (01810.HK) raised $42.5 billion by top-up placing in a 6.6% discount, Citi Research issued a research report saying. Notably, XIAOMI-W held RMB3.1 billion net cash by the end of 2024, and generated RMB39.3 billion of net operating cash flow in 2024. Citi Research believed that the financing may have a positive effect on XIAOMI-W's long-term development, helping to reduce leverage, support AI-related R&D, expand EV output for strong domestic demand and potential overseas expansion, as well as improve the shareholder structure and address recent market concerns. However, due to the dilution effect, the share price may come under pressure in the short term. After opening 5.5% lower today, XIAOMI-W last eroded 5.26% to $54, with volume of 1.04 billion shares, involving $55.88 billion. AAStocks Financial News |
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