Chinese AI firm Moonshot files confidentially for Hong Kong IPO, sources say
It has been valued at US$50 billion (S$63.5 billion) in an ongoing funding round, said two sources.
HONG KONG - The Chinese AI startup Moonshot has filed confidentially for a Hong Kong initial public offering (IPO), according to three sources familiar with the plans, the report said. The creators of the widely used AI large language model Kimi aim to raise US$3 billion (S$3.8 billion) as part of the offering, one source said. The company has been valued at US$50 billion in an ongoing funding round, two separate sources revealed.
The sources, who are not authorized to speak with the media, did not provide their names. The IPO timeline will depend on regulatory approvals, and financial details may change based on market conditions, the sources added. Moonshot must first adjust its offshore incorporation structure to an onshore China domicile before filing for the IPO, sources said.
The company is collaborating with banks such as Goldman Sachs, CICC, and Deutsche Bank on the IPO, according to the sources. However, CICC and the banks did not immediately comment on the matter. Moonshot's confidential IPO filing was initially reported by Chinese tech-focused publication LatePost on September 2, according to Reuters.
Written by urgent.news from Straits Times Business's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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