News brief
On 2026/7/10, Cailian Press and Zhidx reported that AI large-model company MiniMax, also known as Xiyu Technology (0100.HK), had announced financing after listing on the Hong Kong main board in month 1 that year. It proposed placing 35.6 million new Class A shares at HKD 268 per share, raising approximately HKD 9.54 billion gross, while issuing HKD 6.5 billion principal of zero-coupon guaranteed convertible bonds due in 2027. The initial conversion price was HKD 335 per share, approximately 12.64% above the closing price. Combined net proceeds were approximately HKD 15.957 billion, approximately 13.8 billion yuan (CNY) or approximately USD 2 billion. Morgan Stanley underwrote the transaction, attracting leading international sovereign funds, long-term funds and major Chinese institutions. Approximately 80% of funds would support AI infrastructure and large-model R&D. This was MiniMax’s first large-scale financing after listing.
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- www.cls.cn ↗Published Jul 10, 2026
Original source text
Names may use phonetic renderings when no English name is supplied. The original wording is retained below.
2026年7月10日，据财联社、智东西报道，今年1月刚登陆港交所主板的AI大模型公司MiniMax（稀宇科技，0100.HK）公告：拟配售3560万股新A类股份（每股配售价268港元，募资总额约95.4亿港元），同时发行本金总额65亿港元、2027年到期的零息有担保可转换债券（初步转股价每股335港元，较收市价溢价约12.64%）；两项合计募资净额约159.57亿港元（约合人民币138亿元、约20亿美元），由摩根士丹利承销，吸引多家顶级国际主权基金、长线基金及一线中资机构参与，资金约80%投向AI基础设施与大模型研发。这是MiniMax上市后首次大规模融资动作。