China’s DeepSeek taps CITIC Securities for domestic IPO
Chinese artificial intelligence startup DeepSeek has tapped CITIC Securities to prepare for an initial public offering on Shanghai’s tech-focused STAR Market, two people with knowledge of the matter said.
The Hangzhou-based company aims to begin the IPO process this year, the people said, speaking on condition of anonymity because the discussions are private.
DeepSeek’s engagement of CITIC, which has not been reported so far, is an indication that the startup is moving along in its IPO plan. Companies seeking a mainland China listing typically appoint securities firms to conduct pre-listing tutoring before submitting an application.
