Zhipu Leads $4 Billion Hong Kong Share Sale as Chinese AI Firms Raise $5.8 Billion
Updated
Updated · Bloomberg · Jul 9
Zhipu Leads $4 Billion Hong Kong Share Sale as Chinese AI Firms Raise $5.8 Billion
3 articles · Updated · Bloomberg · Jul 9
Summary
$4 billion from Zhipu's share placement made it Hong Kong's second-largest equity offering this year, capping a $5.8 billion fundraising burst by Chinese AI companies this week.
Zhipu returned to the market just six months after its IPO, after its stock had surged about 1,500% through Wednesday and climbed as much as 22% again on Thursday morning.
Wall Street banks were largely absent from the fundraising wave, highlighting how Chinese AI issuers are tapping Hong Kong capital without major U.S. bank involvement.