3 billionaires buy Xiaomi stake ahead of biggest IPO since 2014

Three billionaires - Alibaba Founder Jack Ma, Tencent CEO Pony Ma and CK Hutchison Holdings' former Chairman Li Ka-shing - have reportedly agreed to buy stakes in Xiaomi ahead of its IPO. Xiaomi's IPO, the biggest since Alibaba's 2014 IPO, will see $30 million investment from Li Ka-shing, reports added. Xiaomi is expected to raise $6.1 billion through IPO.