MiniMax Raises HK$697 Million From Full Exercise of Overallotment Option in Hong Kong IPO
MT Newswires Live
Yesterday
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.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.