Zhipu AI mulls several billion US dollar share sale in Hong Kong: Bloomberg

Knowledge Atlas Technology (2513), or Zhipu AI, is considering a share sale in Hong Kong to raise several billion US dollars - a scale that will far exceed the fundraising amount of US$558 million (HK$4.35 billion) in its initial public offering in January, Bloomberg reported.

The Chinese artificial intelligence startup is in discussions with advisors about a potential share placement expected to commence as early as next month, while it may not ultimately reach a deal, the report said.

Zhipu AI's shares have skyrocketed about 18 times since it was listed in the city on the wave of AI frenzy. Its share price surged to HK$2,228 year-to-date compared with its offer price of HK$116.2, sending its market value above HK$1 trillion.

Earlier, the company also said that it's planning to list in Shanghai, aiming to raise more funds for its AI model development.

Its six-month lock-up period for its IPO in Hong Kong will end on July 8.

𝗗𝗼𝘄𝗻𝗹𝗼𝗮𝗱 𝗧𝗵𝗲 𝗦𝘁𝗮𝗻𝗱𝗮𝗿𝗱 𝗔𝗽𝗽 ↓