Hong Kong stocks could face selling pressure as lock-ups end for Hong Kong-listed AI developers Zhipu and MiniMax, putting about HK$90 billion (US$11.5 billion), of shares on the market.

China-based AI developer Zhipu will have 25.68 million shares freed from lock-up. MiniMax will have 150 million shares freed.

The expiries relate to the companies’ own Hong Kong-listed shares rather than publicly identified holdings by other listed investors.

The share overhang follows a sharp sell-off, with both stocks falling about half in the two weeks before the expiries after they listed in January.

Zhipu is preparing fundraising after its initial public offering, which could add to share supply if it proceeds.

🔗 Source: South China Morning Post

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