Zhipu Seeks $4 Billion Hong Kong Share Sale After 1,500% Stock Surge
Updated
Updated · Bloomberg · Jul 8
Zhipu Seeks $4 Billion Hong Kong Share Sale After 1,500% Stock Surge
3 articles · Updated · Bloomberg · Jul 8
Summary
Zhipu is marketing 19.8 million Hong Kong shares at HK$1,588 to HK$1,698 each, aiming to raise about $4 billion.
The offering comes after the Chinese AI model maker’s stock has surged nearly 1,500% since its January Hong Kong listing, giving it room to sell new shares.
The price range implies a discount of as much as 13% to Wednesday’s close, a common tactic to attract demand in a large follow-on deal.
Zhipu, which trades as Knowledge Atlas Technology, is tapping investor appetite for Chinese AI names after one of Hong Kong’s sharpest post-listing rallies this year.