MiniMax Group's AI IPO expected to price at top of HK$151-HK$165 range, raising up to $538m in Hong Kong debut.

AI startup MiniMax Group is set to debut in Hong Kong, with shares reportedly pricing at the top of its range of HK$151 to HK$165. This would raise $538 million and value the company at around $6.5 billion. Founded in 2022, MiniMax develops multimodal AI systems and has a product line including MiniMax M1, Hailuo-02, Speech-02, and Music-01. Trading is expected to begin on January 9.