Hong Kong-listed AI company MiniMax (0100.HK) has closed its initial public offering (IPO) subscription, setting a record for the fastest global AI company from founding to public listing in just four years.

According to Futu Securities data, the IPO margin financing totaled more than HK$253.3 billion, and the public offering was oversubscribed 1,209 times. MiniMax will officially list on Jan. 9.

The company offered 25,389,220 shares at a price range of HK$151 to HK$165 per share, targeting fundraising of approximately HK$3.83 billion to HK$4.19 billion. The IPO attracted 14 cornerstone investors, including Aspex, Eastspring, Mirae Asset, ADIA, Alibaba, and E Fund, committing a total of HK$2.723 billion.

MiniMax is one of only four global full-modal large model companies in the top tier. As of September 2025, it had more than 212 million individual users across over 200 countries and regions. Its revenue in the first nine months of 2025 grew over 170% year-on-year, with overseas markets contributing more than 70% of total income.