TechFlow, Dec 30 — According to Jinshi Data, sources revealed that AI startup MiniMax has secured Alibaba Group and Abu Dhabi Investment Authority as key backers for its upcoming Hong Kong IPO. The sources said MiniMax is aiming to raise over $600 million through the IPO. Some of them indicated that the company could begin accepting investor subscriptions as early as Wednesday, with plans to list in January next year. The sources also stated that apart from Abu Dhabi Investment Authority and Alibaba, IDG Capital, Perseverance Asset Management, and South Korea's Mirae Asset will also be cornerstone investors in this offering. However, they added that talks are still ongoing, and the size and timing of the deal could still change.
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