think it is a good move. francine: xiaomi has raised a $4.7 billion in the hong kong ipo. the beijing-based smartphone maker priced shares at 17 hong kong dollars each, the lower end of the market range. separate sources say george soros and a chinese company are among investors that placed the orders. how does this match expectations we had? >> sourced said they were targeting a valuation of $100 billion and ended up getting about half of that valuation, $54 billion, the reasons complex. the markets are certainly rocky, the trade tensions have been challenging. they wanted to raise some money out of the mainland domestic market through the china depository receipts which did not work out partly because regulations are complicated. no caps on has done that successfully and they were not able to pursue that at the same time they did the hong kong ipo. the fundamental reason is they never really persuaded investors