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MINIMAX-W Collapses ~15% Below Placing Price; Placing & CB Issuance Reportedly Oversubscribed by Several Times
2026-07-10 13:50:23 Two major Hong Kong AI model providers have raised funds through share placements following the expiry of lock-up this week. MINIMAX-W (00100.HK) announced plans for a share placement and the issuance of zero-coupon guaranteed convertible bonds, aiming to raise over HK$16 billion. The stock opened 5.7% lower this morning and continued its decline, falling below the placement price of HK$268 to a low of HK$249.6. It last traded at HK$253.8, down 14.66%, with a turnover of HK$2.558 billion. Minimax's share placement and convertible bond issuance, totaling over HK$16 billion, were oversubscribed several times, Bloomberg, citing sources familiar with the matter, reported. Sources indicated that long-only investors participated in the subscription. Sources added that Minimax's management was deeply involved in the placement. ~ AAStocks Financial News Web Site: www.aastocks.com | |