StoryFunding
MiniMax IPO on Hong Kong Stock Exchange; shares surge 110% on debut
MiniMax completed its initial public offering on the Hong Kong Stock Exchange, closing at HK$345 per share versus offer price of HK$165, valuing the company at approximately HK$107 billion ($13.7 billion USD). The company raised HK$4.8 billion, with oversubscription reaching 1,837 times in the retail tranche, reflecting strong investor demand for Chinese AI companies.
- Closed at HK$345 per share, surging 110% from offer price of HK$165
- Market cap exceeded HK$100 billion on first day of trading
- Retail offering oversubscribed 1,837 times by approximately 420,000 investors
- Capital raised (HK$4.8 billion) to fund AI research and product development