DeepSeek has retained four underwriters, including CITIC Securities, as it prepares for an IPO on Shanghai’s technology-focussed STAR Market, the South China Morning Post reported, citing two unnamed people familiar with the matter.
DeepSeek is reportedly beginning the IPO process this year, alongside a pre-IPO round of financing that could value it at about 500 billion yuan ($74.5bn, £55bn) before the new funding.
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Infrastructure development
In early August Hangzhou-based DeepSeek recommenced its second funding round, seeking nearly $8 billion (£6bn), having paused the process in July after the company’s remarks to investors were leaked.
