The world's first large-scale model stock is here! Zhipu begins its IPO today, with a market capitalization of HK$51.1 billion.

The world's first large-scale model stock is about to debut on the Hong Kong Stock Exchange. Zhipu (stock code: 2513) launched its Hong Kong IPO today, with listing expected on January 8, 2026. The IPO will issue 37.4195 million H shares (1.871 million shares offered in Hong Kong and 35.5485 million shares offered internationally), at an issue price of HK$116.20 per share. The total fundraising amount is approximately HK$4.3 billion, valuing the company at over HK$51.1 billion. The subscription period ends on January 5, 2026.