Chinese AI startup MiniMax is preparing for a major Hong Kong listing, with backing from global heavyweights Alibaba Group and the Abu Dhabi Investment Authority as cornerstone investors.
According to Bloomberg, MiniMax is targeting to raise more than $600 million through its initial public offering, positioning it among the most significant AI-focused IPOs to emerge from China in recent years. The company is expected to begin taking investor orders imminently, ahead of a potential listing in Hong Kong scheduled for January.
Beyond Alibaba and ADIA, the IPO has attracted a strong lineup of international institutional investors. Reported cornerstone participants include IDG Capital, Perseverance Asset Management, and South Korea-based Mirae Asset, highlighting broad cross-border confidence in MiniMax’s growth story.
The participation of both strategic tech players and sovereign capital reflects rising global appetite for exposure to advanced AI companies, even amid ongoing market volatility. It also reinforces Hong Kong’s role as a key gateway for Chinese technology firms seeking international capital.
Bloomberg noted that the final size and timing of the offering remain subject to market conditions and ongoing discussions, suggesting adjustments could still be made ahead of the official launch. If completed as planned, MiniMax’s IPO would mark another milestone for China’s AI sector—and a notable signal of renewed momentum in global tech listings.
