Insiders: Alibaba and Abu Dhabi plan to invest in AI company MiniMax to support its IPO
PANews, December 30 – According to sources familiar with the matter, artificial intelligence startup MiniMax has secured Alibaba Group and Abu Dhabi Investment Authority as its main backers for its upcoming IPO in Hong Kong. The sources said MiniMax is seeking to raise over $600 million through the IPO. Some of them indicated that the company could start accepting investor subscriptions as early as Wednesday, with plans to go public in January next year. The sources also mentioned that, in addition to Abu Dhabi Investment Authority and Alibaba, IDG Capital, Perseverance Asset Management, and Korea's Mirae Asset will also be cornerstone investors in this deal. However, they added that negotiations are still ongoing, and the size and timing of the transaction could still change.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
The Nasdaq 100 rebalancing will take effect before the U.S. stock market opens on Monday, SpaceX (SPCX.US) weight significantly rises to 2.82%.
The Nasdaq 100 Index quarterly rebalancing will take effect before the US stock market opens on September 21 (Monday). The main change is that SpaceX (SPCX.US) will see its index weighting significantly increase from about 1.28% to 2.82%.
WTI falls to near $93.50 as Middle East diplomacy hopes ease supply fears
South Korea's exports in the first 20 days of September continued strong momentum, with chip exports soaring by 259%, remaining a key driver of growth.
Early September exports from South Korea help maintain strong momentum in the chip boom.
Crypto prices
More
