Xiaomi Seeks Up To $4 Billion In Equity Deals - Term Sheet

HONG KONG (Reuters) - Chinese smartphone maker Xiaomi Corp has raised $3.91 billion as part of a deal that includes Hong Kong's largest top-up placement, according to a term sheet seen by Reuters.

Potential investors have been told the price should be HK$23.70 for the 1 billion shares that are being sold down in the deal, the term sheet showed.

The price is at the lower end of the range flagged by the company on Tuesday when it said the deal would be between HK$23.70 and HK$24.50.