MiniMax Secures Alibaba and ADIA Backing for Hong Kong IPO, Targeting $600 Million+ Raise Ahead of January Listing

According to COINOTAG News, citing Bloomberg, MiniMax, a Chinese artificial intelligence startup, has secured Alibaba Group and the Abu Dhabi Investment Authority as key backers for its Hong Kong IPO.

Market chatter indicates the offering could exceed $600 million, with investor subscriptions expected to open in the near term and a January listing on the calendar.

The arrangement underscores evolving capital appetite for tech-focused listings in Hong Kong and the participation of sovereign investors in AI ventures.