One of the leading players in China's crowded artificial intelligence sector, Zhipu AI, said the proposed issuance of A shares, each with a nominal value of 0.10 yuan, would represent between 2% and 8% of the company's total share capital, or 9.1 million to 38.8 million shares.

Hong Kong-listed Zhipu has become an AI champion after the launch of several world-class large language models.

China’s largest model developer by revenue plans to raise 15 billion yuan through a secondary listing on Shanghai’s STAR Market, less than six months after its blockbuster Hong…