MiniMax Photo: VCG

　　Chinese artificial intelligence (AI) start-up MiniMax saw its shares soar on their Hong Kong Stock Exchange (HKEX) debut on Friday, with morning trading hitting 79.15 percent rise at the highest, underscoring strong investor enthusiasm bolstered by robust backing from major global institutions.

　　The stock opened at HK$235.40 ($30.2) on Friday, a 42.7 percent premium over the IPO price of HK$165, pushing the company"s valuation to surpass HK$76.3 billion.

　　The listing raised HK$5.54 billion, achieved by pricing shares at the upper end of the range and expanding the offering to accommodate strong demand from institutional investors, MiniMax told the Global Times in a statement.

　　According to the allotment results released by the company on Thursday, the public offer portion oversubscribed MiniMax"s IPO shares by 1,837 times, and the international tranche attracting 37 times subscription, showcasing that the market response to the offering was overwhelmingly enthusiastic.

　　The Shanghai-based 4-year-old AI startup positioned itself as possibly the fastest company to list after its founding.

　　The company said in the statement that it "completed its Hong Kong IPO only four years after its establishment, setting a new global record for the shortest time from founding to listing in the AI industry."

　　"The true value of an AI company lies in delivering a continuous stream of advanced intelligence that serves humanity. MiniMax will continue to strive for the advancement of intelligence and make greater contributions to social and economic development," said Yan Junjie, founder, chairman, and CEO of MiniMax, in the statement.