On January 6, MiniMax’s Hong Kong IPO subscription has formally closed. Info current that the IPO obtained a margin financing amount exceeding HKD 253.3 billion (about USD 32.4 billion), with most people offering oversubscribed 1,209 cases, making it a present focus in Hong Kong’s AI sector.
The company equipped a whole of 25.3892 million shares in its worldwide offering at a price differ of HKD 151–165 per share (about USD 19.3–21.1 per share), elevating an estimated HKD 3.834–4.189 billion (about USD 490–536 million). The “youthful” AI agency, with a median employee age of merely 29, achieved a Hong Kong IPO in solely 4 years from founding, setting a report for the shortest time from establishment to itemizing throughout the worldwide AI sector.
The subscription frenzy shows sturdy worldwide investor confidence in MiniMax’s core price. In line with its worldwide offering prospectus, the IPO drew 14 heavyweight cornerstone consumers, along with worldwide long-term funds, prime tech corporations, Chinese language language long-term institutions, and insurance coverage protection capital. Notable members embrace Aspex, Eastspring, Mirae Asset, ADIA, Alibaba, and E Fund, collectively subscribing for HKD 2.723 billion (about USD 348 million). Such broad consensus amongst worldwide long-term funds is unusual throughout the present Hong Kong market, providing sturdy endorsement for the company’s price.
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