Chinese AI startup DeepSeek has hired CITIC Securities to prepare for an initial public offering on Shanghai’s STAR Market, Reuters reported Wednesday, citing two people familiar with the matter. The Hangzhou-based company aims to begin the IPO process this year, the sources said.
Companies seeking a mainland China listing typically appoint a securities firm to conduct pre-listing tutoring before filing an application. The timing of a potential offering, the amount to be raised and the target valuation have not been decided, and neither DeepSeek nor CITIC Securities immediately responded to requests for comment. [Reuters]