A prominent Chinese artificial intelligence company announced Monday evening its intention to go public through Shanghai’s technology-focused stock exchange.
Knowledge Atlas Technology JSC, which operates under the name Zhipu AI, revealed plans to offer shares on the Shanghai Stock Exchange’s Sci-Tech Innovation Board. The AI firm stands among the top competitors in China’s competitive artificial intelligence marketplace.
According to the announcement, Zhipu AI would offer A shares valued at 0.10 yuan each, totaling anywhere from 9.1 million to 38.8 million shares. This offering would account for between 2% and 8% of the company’s complete share ownership.
The company did not reveal how much money it expects to generate through the stock offering.
Zhipu AI outlined plans to complete the share issuance within one year of receiving approval documentation from the China Securities Regulatory Commission. Following the completion of share distribution, the company will seek to have its stock listed and traded on the exchange.
The firm also announced it will rebrand its English corporate name from Knowledge Atlas Technology Joint Stock Co to Z.AI Co to better match its business operations.
