Zhipu and MiniMax Face HK$90 Billion Lock-up Expiry, Shares Set to Flood Hong Kong Market

According to South China Morning Post, lock-ups for Hong Kong-listed AI developers Zhipu and MiniMax are set to expire, releasing approximately HK$90 billion (US$11.5 billion) of shares to the market. Zhipu will have 25.68 million shares freed from lock-up, while MiniMax will release 150 million shares. The expiration follows a sharp downturn, with both stocks falling approximately 50% in the two weeks preceding the lock-up expiry after their listings in January.
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