Chinese generative artificial intelligence start-up MiniMax Group has kicked off its Hong Kong initial public offering (IPO), seeking to raise up to HK$4.19 billion (US$538 million) to support its growth as competition intensifies in China’s fast-moving AI sector.
The Shanghai-based company would offer 25.39 million shares globally, with about 5 per cent allocated to Hong Kong retail investors and the rest to international investors, according to a stock exchange filing on Wednesday.
Shares were…
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