MiniMax明日登陆港股！据悉柏基投资与GIC等机构押注48亿港元

Core Viewpoint - MiniMax, a Chinese generative AI company, is set to debut on the Hong Kong Stock Exchange on January 9, with an IPO price of HKD 165 per share, raising approximately HKD 48.2 billion in total [1][3]. Group 1: IPO Details - The IPO has received unprecedented interest from global capital, with the retail portion in Hong Kong being oversubscribed by approximately 1209 times, and brokers lending over HKD 253.3 billion in margin [1][3]. - The international placement (excluding cornerstone investors) was oversubscribed by over 70 times, receiving more than 460 bids [1][3]. Group 2: Key Investors - Notable cornerstone investors include Baillie Gifford, Singapore's GIC, and 14 other institutions, securing approximately HKD 27.23 billion in shares [2][4]. - Other significant investors include Norway's central bank investment management and Schroders, with most shares for institutional investors being subscribed by global long-only investors and sovereign wealth funds [1][3]. Group 3: Market Context - MiniMax's main domestic competitor, Zhiyu AI, went public on January 8, with its public offering oversubscribed by over 1159 times, initially opening below its IPO price but later stabilizing and closing up over 13%, with a market capitalization exceeding HKD 57 billion [2][4]. - The performance of both companies is seen as a critical test for investors assessing whether Chinese AI firms can compete with international counterparts [2][4].