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The Wall Street Journal.
Smartphone Giant Pivots From IPO to Buybacks Within Months

Smartphone Giant Pivots From IPO to Buybacks Within Months

The Wall Street Journal. - Joanne Chiu

China’s Xiaomi Corp. is buying back stock barely six months after going public in Hong Kong. What’s Happening Last week, Xiaomi shares hit a record closing low of 9.70 Hong Kong dollars. That means it had lost more than US$20 billion of market value since a high-profile, US$5.4 billion initial public …

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