AI firm MiniMax prepares for mainland China listing after shares surge in Hong Kong
Chinese AI company MiniMax has hired Citic Securities to prepare for a mainland China listing of yuan-denominated shares, with the specific venue yet to be confirmed. The Shanghai-headquartered firm signed an agreement with the brokerage on Friday. MiniMax joins a wave of AI companies tapping China's onshore stock markets amid surging global investor interest in tech stocks, fueled by hyperscaler investments in AI infrastructure and easing Middle East tensions. The Nasdaq-100 hit a record on Friday, while South Korean and Taiwanese markets also reached all-time highs. China's Star Market 50 index hit a record last week, gaining about 30% this year. MiniMax shares rose 0.4% to HK$840 in Hong Kong on Friday, valuing the company at HK$264 billion (US$33.7 billion), up 400% since its January IPO.
Key facts
- MiniMax hired Citic Securities to prepare a mainland China listing.
- The listing venue is yet to be confirmed.
- The agreement was signed on Friday.
- MiniMax is based in Shanghai.
- Global investor interest in AI stocks is at an all-time high.
- Nasdaq-100 index rose to a record on Friday.
- Star Market 50 index hit a record last week, up about 30% this year.
- MiniMax shares rose 0.4% to HK$840 in Hong Kong on Friday, valuing the company at HK$264 billion.
Entities
Institutions
- MiniMax
- Citic Securities
- Nasdaq-100
- Star Market 50
Locations
- Shanghai
- China
- Hong Kong
- South Korea
- Taiwan