Chinese AI firm MiniMax targets $4 billion-plus valuation in Hong Kong IPO, sources say

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Chinese AI startup MiniMax has filed confidentially for a Hong Kong initial public offering, targeting a valuation of over $4 billion in the flotation, which could happen before the end of this year, three people with knowledge of the matter said.

MiniMax could raise HK$4 billion to HK$5 billion ($510 million to $637 million) in the IPO, one of the sources said.

China International Capital Corp and UBS have been hired as sponsors for the IPO, the sources said.

The IPO size and valuation could change, subject to market conditions, added the sources, all…



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Chinese AI firm MiniMax targets $4 billion-plus valuation in Hong Kong IPO, sources say



Chinese AI startup MiniMax has filed confidentially for a Hong Kong initial public offering, targeting a valuation of over $4 billion in the flotation, which could happen before the end of this year, three people with knowledge of the matter said.

MiniMax could raise HK$4 billion to HK$5 billion ($510 million to $637 million) in the IPO, one of the sources said.

China International Capital Corp and UBS have been hired as sponsors for the IPO, the sources said.

The IPO size and valuation could change, subject to market conditions, added the sources, all…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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