Chinese smart wearable device maker Huami debuts on NYSE

Source: Xinhua| 2018-02-09 07:42:00|Editor: Liangyu
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NEW YORK, Feb. 8 (Xinhua) -- Chinese smart wearable device maker Huami Corporation rang the New York Stock Exchange (NYSE) opening bell Thursday in celebration of its Initial Public Offerings, notching the first NYSE IPO of a Chinese company this year.

Huami, trading under the ticker symbol of "HMI," priced its IPO of 10 million American Depositary Shares at 11 U.S. dollars, well within the planned 10 to 12 dollar per share range.

Credit Suisse, Citigroup and China Renaissance are the joint book runners.

Shares of Huami rose 2.27 percent to close at 11.25 dollars apiece on Thursday. All three major indices plunged on the day, with the Dow plummeting more than 1,000 points to close 4.15 percent lower at 23,860.46.

Smart wearable market has been growing rapidly in China with significant growth momentum. Huami shipped 11.6 million units of smart wearable devices in the first nine months of 2017, more than any other company in the world, according to Frost & Sullivan.

The company has been the sole partner of Xiaomi Corporation, a mobile Internet company and global consumer electronics brand.

Xiaomi is now one of the largest unicorn companies in the world and is expected to go public in 2018. Xiaomi and its affiliated funds are major shareholders of Huami.