Xiaomi Corp. has successfully raised approximately $5.5 billion through an upsized share sale in Hong Kong. This strategic move by the Chinese tech giant aims to capitalize on the recent surge in its stock price, providing essential funds for the expansion of its electric vehicle (EV) business. The share sale, which follows a similar fundraising effort by EV giant BYD Co., underscores a promising year for share sales in Hong Kong. The city’s benchmark stock index, the Hang Seng Index, has seen a 19% gain this year, reigniting global investor interest in Hong Kong stocks. Xiaomi sold 800 million shares at HK$53.25 each, representing a 6.6% discount to the previous closing level. The company plans to utilize the proceeds to accelerate business expansion and invest in research and development, particularly in advancing its technological capabilities in the EV sector. This fundraising effort positions Hong Kong for its largest quarter of share sales since the final quarter of 2021.