MiniMax Raises HK$697 Million From Full Exercise of Overallotment Option in Hong Kong IPO

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MiniMax (HKG:0100) said its underwriters fully exercised the overallotment option of its Hong Kong listing, according to a Sunday filing with the Hong Kong bourse.

Shares of the artificial intelligence company jumped over 6% in morning trade Monday.

The firm will issue 4.4 million shares at HK$165 apiece for additional net proceeds of HK$697.3 million.

The overallotment option was exercised after around 36.1 million shares were over-allocated in the international portion of the IPO.

The number of shares held by the public after the exercise of the overallotment option complies with Hong Kong's listing requirements, the firm said.

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