(Jan 8): Investment firm Baillie Gifford and Singapore’s sovereign wealth fund GIC Pte Ltd are among those buying shares in MiniMax Group Inc’s much-awaited HK$4.8 billion (US$619 million or RM2.5 billion) initial public offering (IPO) in Hong Kong, according to people familiar with the matter. Norway’s Norges Bank Investment Management and asset manager Schroders plc are also among the buyers, the people said. Baillie Gifford, GIC and Norges Bank didn’t respond to requests for comments. On Thursday, shares of rival Knowledge Atlas Technology JSC Ltd, better known as Zhipu, climbed 13% in their debut in the Asian financial hub. Their stock performance is being seen as an early measure of whether investors view the firms as credible challengers to their US counterparts.

Source: The Edge Markets January 08, 2026 09:17 UTC