China's Xiaomi to Raise up to $5.27 Billion from Share Sale 

Xiaomi's new EV sedan SU7 Ultra is displayed during a launch event in Beijing, China February 27, 2025. (Reuters) 
Xiaomi's new EV sedan SU7 Ultra is displayed during a launch event in Beijing, China February 27, 2025. (Reuters) 
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China's Xiaomi to Raise up to $5.27 Billion from Share Sale 

Xiaomi's new EV sedan SU7 Ultra is displayed during a launch event in Beijing, China February 27, 2025. (Reuters) 
Xiaomi's new EV sedan SU7 Ultra is displayed during a launch event in Beijing, China February 27, 2025. (Reuters) 

China's Xiaomi Corp is raising up to $5.27 billion in a top-up placement on Monday, according to a term sheet seen by Reuters.

The shares are being sold in a HK$52.80 to HK$54.60 price range, the term sheet said.

The smartphone maker, which began manufacturing electric vehicles (EVs) last year, is selling 750 million Class B shares and the price range represents a 4.2-7.4% discount to the company's HK$57 closing price on Monday.

The money raised is earmarked for business expansion, investment in research and technology development and general corporate purposes, the term sheet said.

Xiaomi did not respond immediately to a request for comment.

EV manufacturer BYD this month raised $5.59 billion in Hong Kong's largest share sale in four years.



DeepSeek Available to Download Again in South Korea After Suspension 

The DeepSeek logo is seen on January 29, 2025. (Reuters)
The DeepSeek logo is seen on January 29, 2025. (Reuters)
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DeepSeek Available to Download Again in South Korea After Suspension 

The DeepSeek logo is seen on January 29, 2025. (Reuters)
The DeepSeek logo is seen on January 29, 2025. (Reuters)

Chinese artificial intelligence service DeepSeek became available again on South Korean app markets on Monday for the first time in about two months, when downloads were suspended after authorities cited breaches in data protection rules.

South Korea's Personal Information Protection Commission said on Thursday that DeepSeek transferred user data and prompts without permission when the service first launched in South Korea in January.

Downloading the app was suspended in February after the questions over personal data protection surfaced, but the service was available for download again on South Korea's app market including via Apple's App Store and Google Play Store.

"We process your personal information in compliance with the Personal Information Protection Act of Korea," DeepSeek said in a revised privacy policy note applied to the app.

DeepSeek said users had the option to refuse to allow the transfer of personal information to a number of companies in China and the United States.

DeepSeek did not immediately respond to a request for comment on Monday.

South Korea's data protection agency said DeepSeek had voluntarily decided to make the app available for download, which it is free to do after at least partially reflecting its recommendations.