Chinese AI firm Moonshot files confidentially for Hong Kong IPO, sources say
It has been valued at US$50 billion in an ongoing funding round and aims to raise US$3 billion
Chinese AI firm Moonshot has confidentially submitted paperwork for a Hong Kong initial public offering (IPO), according to sources familiar with the matter. The technology company, known for its popular AI large language model Kimi, aims to raise US$3 billion in the upcoming offering. Moonshot's valuation stands at an impressive US$50 billion, reflecting the heightened interest in Chinese AI startups.
The IPO filing was first reported by LatePost, a Chinese tech-focused publication, on Wednesday, September 2nd. The timeline for the IPO will depend on regulatory approvals and potential market fluctuations. Moonshot has sought guidance from prominent banks, including Goldman Sachs, China International Capital Corporation (CICC), and Deutsche Bank, to assist with the IPO process.
While the companies have not officially commented on the matter, sources confirm their involvement. Moonshot has had to adjust its offshore incorporation structure to align with Hong Kong's onshore requirements before officially filing for the IPO.
Written by urgent.news from The Business Times - Companies & Markets's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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