MiniMax Launches ~$1.9B Hong Kong Fundraise — 35.6M New Shares at HK$268 Plus HK$6.5B Zero-Coupon Convertible Bond to Fuel AI Infrastructure and Global Expansion

Chinese AI lab MiniMax is raising up to HK$14.54 billion (~$1.9B) via a 35.6M-share placement at HK$268 (a 9.9% discount to Thursday's close) and a HK$6.5B convertible bond at a 2.75% coupon with a HK$335 conversion price. Proceeds will fund AI infrastructure buildout and global commercialization amid mounting US chip export pressure. The financing follows MiniMax's January HK IPO at HK$165/share and comes on top of its recently disclosed 2.7T-parameter M3 Pro model plans.