Beijing Zhipu Huazhang Technology Co., Ltd. launched a Hong Kong initial public offering (IPO) IPO, which is expected to last until January 5, 2026, and is scheduled to be listed on the main board of the Hong Kong Stock Exchange under the stock code "2513" on January 8, 2026. The relevant arrangements are subject to the completion of the offering and the satisfaction of the listing conditions, and the timetable is subject to change due to market and procedural adjustments.
According to the disclosure, it is planned to offer about 37,419,500 H shares globally, of which about 1,871,000 shares will be offered in Hong Kong and about 35,548,500 shares will be offered internationally, and the offer price will be HK$116.20 per share (plus relevant fees). The trading unit of H shares is 100 shares per lot, and the entry fee for one lot is about HK$11,700 at this price. The company expects to announce the subscription results on the evening of January 7, 2026 (Hong Kong time), and if the offering becomes unconditional on the morning of January 8, H shares are expected to start trading at 9 o'clock on the same day.
Zhipu is mainly engaged in general large models and related platform services, and the market is also concerned about whether it will become one of the earliest companies to complete listing in the field of AI large models. Investors should be aware of the risks arising from the fluctuation of IPO shares, pricing and placing results, and changes in liquidity and valuation after listing.
FAQs
Q: When does Zhipu's Hong Kong IPO start and when does it end?
A: According to the disclosure information, the IPO will start on December 30, 2025 and is expected to close on January 5, 2026.
Q: What is the stock code of Zhipu listed on the Hong Kong Stock Exchange and when is it traded?
A: The stock code is 2513; Under the premise that the sale becomes unconditional, it is expected to start trading on the main board on January 8, 2026.
Q: What is the issue price of Zhipu and how many shares are in each lot?
A: The offer price is HK$116.20 per share, and the lot lot is 100 shares.
Q: What is the approximate scale of this global offering?
A: It is planned to offer about 37,419,500 H shares globally, including two parts: the Hong Kong public offering and the international offering.
Q: What are the main risk points of Zhipu's new share subscription?
A: It is necessary to pay attention to the uncertainties such as the placement results and winning rate, price fluctuations before and after listing, and changes in the schedule if the conditions are not met.
