Dec 31 (Reuters) – Chinese AI startup MiniMax Group is seeking to raise up to HK$4.19 billion ($538.54 million) in a Hong Kong initial public offering, a regulatory filing showed on Wednesday.
In July, Reuters had reported that MiniMax could raise HK$4 billion to HK$5 billion in the IPO, with an overall valuation of the firm at $4 billion.
MiniMax is among the first batch of Chinese artificial intelligence companies to seek a public listing. The rise of DeepSeek, China’s alternative to ChatGPT, this year has boosted investor interest in the domestic AI sector.
The firm is set to offer a total of 25.4 million shares by way of a global offering, at up to HK$165.00 per offer share.
($1 = 7.7803 Hong Kong dollars)
(Reporting by Shivangi Lahiri in Bengaluru; Editing by Alan Barona)
