00100 MINIMAX-WP
MINIMAX-WP
MINIMAX-WP
| Register Close | 2026/01/06 IPO Closing in 5 Days |
| Listing Date | 2026/01/09 |
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IPO Detail
COMPANY PROFILE
MiniMax Group Inc. is a global AI foundation model company. The Group is committed to driving AI innovation towards performing the full range of human intellectual tasks, from learning and reasoning to planning and generalizing knowledge across diverse domains.
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The Group’s proprietary foundation model suite, led by MiniMax-M2, Hailuo-02, and Speech-02, has long context processing capacity and can understand, generate, and integrate a wide range of modalities, including text, video, and audio. These models power the Group’s major AI-native products — including MiniMax, Hailuo AI, MiniMax Audio, Talkie/Xingye, and its enterprise and developer-facing Open Platform, delivering intelligent and dynamic experiences to users globally.
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As of September 30, 2025, the Group’s AI-native products had cumulatively served over 200 million individual users across over 200 countries and regions, and more than 100 thousand enterprises and developers across over 100 countries and regions.
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The Group’s revenue is derived from two primary sources: AI-native products and Open Platform and other AI-based enterprise services. Its customers comprise a broad and diverse base across various sectors and geographies.
BASIC INFORMATION
| Market | Hong Kong (Main Board) |
| Business Nature | Software & Services |
| Major Business Area | China |
| Board Lot | 20 |
GLOBAL OFFERING
| No. of Offer Shares | 25.39M shares |
| No. of International Offer Shares | 24.12M shares |
| No. of HK Offer Shares | 1.27M shares |
| Offer Price | $151.00 - $165.00 |
| Stock Code | 100 |
| Sponsor(s) | China International Capital Corporation Hong Kong Securities Limited, UBS Securities Hong Kong Limited |
| Underwriter(s) | China International Capital Corporation Hong Kong Securities Limited, UBS AG Hong Kong Branch, Goldman Sachs (Asia) L.L.C., Morgan Stanley Asia Limited, Futu Securities International (Hong Kong) Limited, Tiger Brokers (HK) Global Limited |
TIME TABLE
| Application Period | Dec 31 (Wed) - noon, Jan 06 (Tue) |
| Price Determination Date | Jan 07 (Wed) |
| Result Announcement Date | On or before Jan 08 (Thu) |
| Result Announcement Date | On or before Jan 08 (Thu) |
| Result Announcement Date | On or before Jan 09 (Fri) |
| Dealings in Shares commence on | Jan 09, 2026. (Fri) |
Reallocation of Shares Offered
Sales Statistics (HKD)
| Offer Price | $151.00 - $165.00 |
| Capitalization | 46.12B - 50.40B |
| NAV / share ($) | $37.96 - $39.08 (Unaudited pro forma adj NAV / share) |
Use Of Proceeds
| Assuming the offer price being at HKD 158, the net proceeds raised would be HKD 3.82B, of which |
| 90% : Research and development including the development of foundation models and AI-native products |
| 10% : Working capital |
Related Document
| Prospectus |  Chinese Version | English Version |
| Remark： | The above information is referenced from the prospectus. |
| All data is calculated from the non- exercise rights(if applicable). |
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*Admission fees include brokerage of 1%, SFC transaction levy of 0.0027%, Stock Exchange trading fee of 0.005% and FRC transaction levy of 0.00015% (i.e. 1.0077% in total).