AI Business
1d ago
MiniMax Group aims to raise $2 billion through share and bond sales for AI expansion
Jul 9, 2026
AI Summary
MiniMax Group Inc. plans to raise up to $2 billion to support its artificial intelligence initiatives. The company intends to sell shares and convertible bonds, with a significant portion coming from a share sale priced at a discount to the market rate.
- MiniMax Group Inc. is looking to raise up to $2 billion in funding for AI development.
- The company aims to secure HK$9.5 billion ($1.2 billion) by selling 35.6 million shares at HK$268 each, which is a 9.9% discount from the previous closing price.
- MiniMax's shares experienced a decline of up to 9.8% following the announcement.
- Additionally, the company is offering HK$6.5 billion in zero-coupon convertible bonds due in 2027, with a 25% conversion premium, expected to price on July 10.
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