Kimi Considers Dual Listing on Hong Kong and STAR Market

Dongcha Beating AI News: Moonshot is considering a dual listing on the Hong Kong Stock Exchange and the STAR Market. The company has confidentially submitted its Hong Kong IPO application and has recently signaled to investors that it is considering listing on the Shanghai Stock Exchange’s STAR Market following its Hong Kong debut. The STAR Market plan remains in the exploratory stage and has not been confirmed. In Hong Kong, Moonshot aims to raise approximately $3 billion and could list as early as the first quarter of 2027. The company is currently advancing its final pre-IPO funding round, with a valuation of around $50 billion. Moonshot is considering a STAR Market listing partly due to the weak stock performance of recent AI companies on the Hong Kong exchange and the crowded IPO pipeline. A dual listing would provide an additional funding channel and broaden investor access. In June of this year, the STAR Market relaxed its fifth listing standard specifically for large model companies, allowing firms without substantial revenue to apply. One requirement is that the company must have at least one large model product live and in scaled deployment.