Chinese artificial intelligence (AI) startups MiniMax and Zhipu have obtained approval from the China Securities Regulatory Commission (CSRC) for their initial public offerings (IPO) in Hong Kong.
According to information on the CSRC website, the International Cooperation Department of the CSRC on Monday (December 22) issued an overseas issuance and listing filing notice for MiniMax Group Inc. (abbreviated as MiniMax). The company plans to issue no more than 33,577,240 shares of overseas-listed ordinary shares and list them on the Hong Kong Stock Exchange. According to the notice, MiniMax’s domestic operating entity is Shanghai Xiyu Jizhi Technology Co., Ltd.
According to information on the CSRC website, the International Cooperation Department of the CSRC on Monday (December 22) issued an overseas issuance and listing filing notice for MiniMax Group Inc. (abbreviated as MiniMax). The company plans to issue no more than 33,577,240 shares of overseas-listed ordinary shares and list them on the Hong Kong Stock Exchange. According to the notice, MiniMax’s domestic operating entity is Shanghai Xiyu Jizhi Technology Co., Ltd.
On the same day, the International Cooperation Department of the CSRC also issued an overseas issuance and listing with “full circulation” filing notice for Beijing Zhipu Huazhang Technology Co., Ltd. (abbreviated as Zhipu). The company plans to issue no more than 43,032,400 shares of overseas-listed ordinary shares and list them on the Hong Kong Stock Exchange.
According to the notice, 57 shareholders of Zhipu plan to convert a total of 178,282,205 shares of unlisted domestic shares into overseas-listed shares for trading on the Hong Kong Stock Exchange.
According to the notice, 57 shareholders of Zhipu plan to convert a total of 178,282,205 shares of unlisted domestic shares into overseas-listed shares for trading on the Hong Kong Stock Exchange.
According to the website of the Hong Kong Stock Exchange, Zhipu had passed the listing hearing and disclosed its prospectus on December 19, and is expected to become the world’s first publicly listed large model company on the exchange. MiniMax released its post-hearing information pack on December 21, and is expected to set a new record for the shortest time from founding to IPO among AI companies.
Bloomberg reported on December 11, citing people familiar with the matter, that Shanghai-based MiniMax could be listed in Hong Kong as soon as January next year. Zhipu also plans to go public in Hong Kong at the same time. Both companies are backed by major Chinese technology giants such as Alibaba Group and Tencent Holdings.
Bloomberg reported on December 11, citing people familiar with the matter, that Shanghai-based MiniMax could be listed in Hong Kong as soon as January next year. Zhipu also plans to go public in Hong Kong at the same time. Both companies are backed by major Chinese technology giants such as Alibaba Group and Tencent Holdings.