DeepSeek selects Citic Securities among underwriters for planned Shanghai listing
DeepSeek, a Chinese AI lab, has hired four underwriters including Citic Securities to prepare for an initial public offering on the Shanghai Stock Exchange's Star market. The company aims to start the IPO process this year and is also completing a pre-IPO funding round that could value it at about 500 billion yuan. This move follows Moonshot AI's confidential filing for a Hong Kong IPO.
DeepSeek, based in Hangzhou, has selected four underwriters, with Citic Securities among them, to facilitate its planned listing on Shanghai's Star market. The firm intends to initiate the IPO process within this year.
Concurrently, DeepSeek is finalizing a pre-IPO funding round that may assign a valuation of roughly 500 billion yuan (US$74 billion). This move parallels Moonshot AI, which recently filed confidentially for a Hong Kong IPO and is seeking a valuation near US$50 billion.
DeepSeek's potential Star market debut could significantly broaden public access to advanced AI investments in China. A successful listing may channel substantial domestic capital into frontier AI research, potentially accelerating the country's competitive position. However, the high valuation could also heighten market volatility and scrutiny over AI profitability. Retail investors and institutional funds alike may face new opportunities and risks as these tech firms transition from private labs to publicly traded entities.