China’s AI startup MiniMax Group raises $619 million in Hong Kong IPO

Chinese ‍artificial intelligence startup MiniMax Group said on Thursday it raised HK$4.82 billion ($618.60 million) ⁠in its Hong Kong initial public offering after pricing shares at HK$165 each.

The company, one of the first large-language model developers in the country ‌to seek ‌a listing, sold 29.2 million shares in the IPO at the top end ‌of its marketed range. It had previously offered to sell about 25.4 million shares.