Hangzhou-based artificial intelligence firm DeepSeek has hired underwriters, including Citic Securities, to prepare for a domestic IPO on the Shanghai Stock Exchange's Star market.
Key facts
- •DeepSeek has hired four underwriters, including Citic Securities, for its planned IPO.
- •The company aims to list on the Shanghai Stock Exchange’s Star market this year.
- •DeepSeek is currently completing a pre-IPO financing round valued at approximately 500 billion yuan (US$74 billion).
- •Competitor Moonshot AI has also filed for a Hong Kong IPO to take place in early 2025.
Chinese artificial intelligence lab DeepSeek has selected four underwriters, including Citic Securities, to facilitate a domestic initial public offering. The Hangzhou-based company intends to initiate the listing process this year on the Shanghai Stock Exchange’s Star market, which is modeled after the Nasdaq.
By the numbers
Pre-IPO Financing and Market Context
The company is currently working to finalize a pre-IPO financing round that could value the firm at approximately 500 billion yuan, or US$74 billion, prior to investment. This move follows a broader trend among Chinese AI developers seeking public listings. DeepSeek is pursuing its IPO alongside Beijing-based competitor Moonshot AI. Moonshot AI, the developer of the Kimi K3 model series, recently filed confidentially for a Hong Kong IPO scheduled for early next year.
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This article was independently rewritten by ManyPress editorial AI from reporting originally published by SCMP Business.
