Investing.com -- Chinese artificial intelligence startup MiniMax is planning an initial public offering in Hong Kong that could happen as early as this year, according to a Bloomberg report on Wednesday.
The Shanghai-based company, which is valued at approximately $3 billion, has reportedly already hired financial advisers to help with the listing process.
MiniMax is considered one of China’s "AI Dragons or Tigers," a term used to describe prominent artificial intelligence companies in the country.
The report added that discussions about the potential IPO are still in progress, and key details including the final valuation and exact timing of the listing might change as planning continues.
If completed, this would represent a significant milestone as one of the first major public offerings from China’s emerging artificial intelligence startup sector.