(Jan 5): MiniMax plans to price its Hong Kong initial public offering (IPO) at the top of the marketed range, people familiar with the matter said, reflecting investor enthusiasm for Chinese start-ups that are increasingly challenging US rivals like OpenAI. At the top of the range, MiniMax will raise at least HK$4.2 billion. MiniMax’s IPO drew demand from investors for several times the shares on offer, the people said. The company is expected to begin trading on Friday, fuelling a busy start of the year for Hong Kong. They are the first of the so-called Chinese AI dragons to list, emerging from a field that includes fellow start-ups Moonshot and Stepfun.

Source: The Edge Markets January 05, 2026 08:29 UTC