China's generative AI tiger MiniMax pursues Hong Kong IPO to expand global reach [Yahoo! Finance]
Alibaba Group Holding Limited American Depositary Shares each representing eight Ordinary share (BABA)
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Source: Yahoo! Finance
development as it seeks to compete with global and domestic rivals , according to a person familiar with the matter. With 70 per cent of its revenue generated overseas, MiniMax was targeting Hong Kong's international investor base and capital market , the person said. The Shanghai-based firm, backed by Alibaba Group Holding and Tencent Holdings, was aiming for a listing as early as January, the person said. The IPO size had not been finalised, despite a July media report suggesting a range between HK$4 billion (US$514 million) and HK$5 billion, another source said. Alibaba owns the South China Morning Post. Do you have questions about the biggest topics and trends from around the world? Get the answers with SCMP Knowledge , our new platform of curated content with explainers, FAQs, analyses and infographics brought to you by our award-winning team. The listing is pending approval from the China Securities Regulatory Commission after the company filed its listing application wi
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