Chinese AI firm MiniMax expected to price Hong Kong IPO at top of range, sources say
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Chinese AI startup MiniMax Group is expected to price its Hong Kong IPO at the top of its range, between HK$151 and HK$165, after strong demand led to oversubscription. The company aims to raise HK$4.19 billion ($538 million) by selling 25.4 million shares, valuing it at approximately $6.5 billion. Founded in 2022 by former SenseTime executive Yan Junjie, MiniMax specializes in multimodal AI models. The IPO pricing is set for January 6, with shares debuting on January 9.
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