Zhipu AI launches $560 million Hong Kong IPO, potentially becoming the first listed large model company

PANews, December 31—According to the South China Morning Post, Chinese artificial intelligence company Zhipu AI has launched its IPO in Hong Kong, aiming to raise HK$4.35 billions (approximately $560 millions), which will make it the first large language model (LLM) developer to be listed in Hong Kong. The offering price is set at HK$116.2 per share, with the listing expected on January 8, and a market valuation of about HK$51.16 billions. Previously, Zhipu AI completed financing of over RMB 8.3 billions, with investors including Meituan, Alibaba, Tencent, and Xiaomi.