Zhipu AI prices its share placement at HK$1,588, aiming to raise roughly $4 billion after a nearly 1,500% stock surge since its January 2026 IPO.

Shares worth US$11.5 billion to hit market as record wave of lock-up expirations starts and some firms eye share placements.

Zhipu AI plans a $4 billion secondary share sale in Hong Kong after its stock surged 1,500% since its January 2026 IPO that raised $560 million.