MiniMax, the artificial intelligence (AI) start-up backed by two of China’s largest technology conglomerates, has confidentially applied for a Hong Kong initial public offering (IPO), according to people familiar with the matter.
China International Capital Corporation and UBS are the sponsors for the listing, according to the sources, who declined to be identified for discussing a confidential matter.
MiniMax aimed to raise between HK$4 billion and HK$5 billion (US$510 million to US$637…
