Reports indicate that Knowledge Atlas (02513.HK) is considering a placement of H-shares to raise billions of dollars in funding.
Citing sources familiar with the matter, a report on June 24th stated that the company is working with advisors to prepare for a potential placement that could occur as early as next month.
A transaction of this magnitude would significantly surpass the approximately HK$4.3 billion raised during the company's initial public offering in Hong Kong, excluding any over-allotment option.
However, the sources noted that discussions regarding the share placement are still ongoing and a final transaction may not be reached.
Knowledge Atlas listed on the Hong Kong Stock Exchange on January 8, 2026, becoming the first major global AI model stock to go public, with an offering price of HK$116.20 per share.
Including the full exercise of the over-allotment option post-listing, the net proceeds from the global offering of its H-shares exceeded HK$4.8 billion.
Concurrently, the company is planning a listing on the Shanghai Stock Exchange's STAR Market, intending to issue new shares representing up to 8% of its total share capital to raise approximately 15 billion yuan.
The news of the potential share placement emerged as the company's stock price fell by as much as 6% during today's trading session before closing at HK$2,174, a marginal increase of 0.18%. The company's total market capitalization stands at approximately HK$969.26 billion.
Although its market value has retreated from the trillion-Hong-Kong-dollar level, the stock has delivered a staggering gain of approximately 1,770.91% since its initial listing.
It is noteworthy that on July 8th, the first post-IPO lock-up period will expire for Knowledge Atlas. This involves roughly 25.68 million shares, representing about 5.76% of the total share capital, held by cornerstone investors.
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