Chinese artificial intelligence start‑up MiniMax Group is preparing to set the price for its upcoming Hong Kong initial public offering (IPO) at the highest level of its proposed range, according to people with direct knowledge of the situation. This move reflects strong investor interest in Chinese tech firms, especially those focused on AI, that are seen as competitors to major U.S. companies like OpenAI.
Yahoo Finance
The Shanghai‑based company has been conducting bookbuilding for its Hong Kong IPO since late December, with a price range set between HK$151 and HK$165 per share. With demand reportedly far exceeding supply, MiniMax is expected to sell shares at the top end of that range, potentially raising around HK$4.19 billion (approximately $538 million) and valuing the firm at about $6.5 billion.
Yahoo Finance
Founded in early 2022 by a former SenseTime executive, MiniMax develops advanced multimodal AI technologies capable of processing text, audio, images, video and music. Investors have shown strong appetite for the offering, with the order book oversubscribed multiple times. The company plans to close the institutional order book by early January and begin trading soon after.
Yahoo Finance
The anticipated pricing at the top of the range highlights continued enthusiasm within the market for Chinese AI ventures and comes as several other technology firms prepare to list in Hong Kong, contributing to a busy start for the city’s capital markets in 2026.
Yahoo Finance
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