- Alibaba Group and Abu Dhabi Investment Authority are anchor investors in MiniMax’s planned IPO.
- The Chinese AI startup aims to raise over $600 million through the offering.
- Strong international participation signals growing global appetite for AI-focused listings.
Chinese artificial intelligence startup MiniMax has secured backing from Alibaba Group Holding Ltd and the Abu Dhabi Investment Authority (ADIA) as key cornerstone investors for its upcoming initial public offering in Hong Kong, according to a report by Bloomberg.
MiniMax is reportedly seeking to raise more than $600 million through the IPO. The company is expected to begin accepting investor orders as early as Wednesday, ahead of a planned listing scheduled for January.
In addition to Alibaba and Abu Dhabi’s sovereign wealth fund, the deal is set to include other major cornerstone investors, such as IDG Capital, Perseverance Asset Management, and South Korea-based Mirae Asset, underscoring broad international interest in the offering.
Bloomberg noted that both the size and timing of the IPO remain subject to change, as discussions continue and market conditions are further assessed.
