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<IPO>AI Startup MiniMax Mulls HK IPO, Backed by Alibaba & Tencent
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The Chinese AI startup MiniMax is weighing an initial public offering (IPO) in Hong Kong, with a valuation of approximately USD3 billion, Bloomberg, citing informed sources, reported. The company aims to list as early as this year, though discussions are still underway, and details such as valuation and listing timeline may be adjusted. Founded in 2021, MiniMax raised USD600 million in a funding round last year, with a valuation of about USD2.5 billion at that time, report said. The funding round was led by BABA-W (09988.HK). Prior to this, TENCENT (00700.HK) also participated. Another AI company, Zhipu, which is also backed by Alibaba and Tencent, is preparing for an IPO too. AASTOCKS Financial News Website: www.aastocks.com |
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