We advised MiniMax Group on its IPO and HKEX listing

Davis Polk advised MiniMax Group Inc. on its initial public offering and listing on the Main Board of the Hong Kong Stock Exchange under Chapter 18C of the Listing Rules and its international offering in reliance on Rule 144A and Regulation S. The gross proceeds of the offering were approximately HK$4.8 billion prior to the exercise of the over-allotment option.

MiniMax is a global AI foundation model company committed to advancing the frontiers of artificial intelligence toward artificial general intelligence through its mission, Intelligence with Everyone. MiniMax’s proprietary multimodal models – including MiniMax M2, Hailuo 2.3, Speech 2.6 and Music 2.0 – feature advanced coding capabilities, high agentic performance and ultra-long context processing. These models can understand, generate and integrate a wide range of modalities such as text, audio, images, video and music. They power MiniMax’s major AI-native products, including MiniMax Agent, Hailuo AI, MiniMax Audio, Talkie and the enterprise- and developer-facing Open API Platform. Collectively, these offerings deliver intelligent, dynamic experiences designed to enhance productivity and improve quality of life for users worldwide.

The Davis Polk corporate team included partners Li He and Jason Xu, counsel – registered foreign lawyer Kevin Zhang, counsel Wendy Kan, associate Calvin Lam and registered foreign lawyer Jed Rothstein. Counsel Sarah E. Kim and associate Nausherwan Ahmed Aamir provided 1940 Act advice. Counsel Alon Gurfinkel and associate Ya Sheng Lin provided tax advice. Members of the Davis Polk team are based in the Hong Kong, Beijing, New York and London offices.

Copy link to share post