Chinese artificial intelligence startup MiniMax Group announced that it has raised HK$4.82 billion (about $618.6 million) through its initial public offering (IPO) in Hong Kong. The company priced its shares at HK$165 each which was the highest price in the offered range.
MiniMax is one of the first major large-language model (LLM) developers in China to go public. In the IPO, the company sold 29.2 million shares, showing strong demand from investors.
In recent weeks, many Chinese AI and chip companies have launched their IPOs in Hong Kong. After listing, most of their shares have stayed above their original offer prices, showing strong interest from investors.
This strong demand reflects growing confidence in China’s local technology sector. It also comes as the Chinese government increases efforts to develop homegrown technology, especially in response to U.S. restrictions on the industry.
MiniMax has received large investments from well-known global investors, including Abu Dhabi Investment Authority and Mirae Asset Securities. The company shared this information in a stock exchange filing.
The company officially launched its IPO on December 31, becoming one of the leading firms in a new wave of companies choosing to list in Hong Kong.
In recent years, Hong Kong has seen a strong return of IPO activity, with more companies selecting the city as their listing destination.
In 2025, Hong Kong recorded its strongest IPO year since 2021. A total of 114 new companies went public raising $36.5 billion, showing growing confidence in the market.
MiniMax was founded in early 2022 by Yan Junjie, a former executive at SenseTime. The company builds advanced AI models that can create text, audio, images, videos and even music.
According to its filing, MiniMax’s shares are expected to start trading on the Hong Kong Stock Exchange on Friday.
Read More- Primech Gets $4 Million Investment from WELLE to Grow Robotics and Facilities Business
