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2025-07-16 10:20:47 The AI startup in mainland China, MiniMax, has confidentially submitted a Hong Kong IPO application, planning to list as early as this year, the Wall Street Journal, citing people familiar with the matter, reported. Headquartered in Shanghai, MiniMax was valued at approximately USD4 billion after its latest financing round, with BABA-W (09988.HK) and TENCENT (00700.HK) among its investors. MiniMax has purportedly submitted its Hong Kong listing plan application to the China Securities Regulatory Commission. Another mainland AI company, Zhipu, which is backed by BABA-W and TENCENT, is preparing for an IPO, having hired banks to advance the IPO process, currently evaluating the listing location. ~ AASTOCKS Financial News Website: www.aastocks.com | |