But on Wednesday it shares fell 7.1% in Hong Kong as the company finalized a $3.9 billion capital raising that included the city's largest top up placement.

The company said a billion shares were sold as part of the deal that was carried out overnight.

The final price was a 9.4% discount to Shami's closing price on Tuesday.

Trading of Shami's stock was halted during Wednesday morning session before the company released details of the deal.

Xiaomi did not immediately respond to a Reuters request for comment on why the deal was not announced until lunchtime.

When the stock resumed trading, it fell by nearly 12% before paring losses to close down over 7%.

Xiaomi recently reported a 19% jump in third quarter net profit as its shipments surged by 45% from a year earlier.