Chinese artificial intelligence startup MiniMax Group has raised HK 4.82 billion (approximately $618.6 million) through its Hong Kong initial public offering, pricing shares at HK 165 each. The company sold 29.2 million shares at the top end of its marketed range. This IPO is part of a trend of Chinese AI and chip firms listing in Hong Kong, indicating strong investor interest amid Beijing's push for domestic tech development. MiniMax, founded in 2022, develops multimodal AI models and plans to use the IPO proceeds for research and development.