China's Zhipu AI plans to apply for Shanghai's Sci-Tech Board, issue A shares
China's Zhipu AI plans to apply for Shanghai's Sci-Tech Board, issue A shares June 2 (Reuters) - Knowledge Atlas Technology JSC 2513.HK, also known as Zhipu AI, intends to issue and apply for listing on the Shanghai Stock Exchange's Sci-Tech Innovation Board, the company said late Monday.
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.
However, it did not disclose the amount it plans to raise from the issue.
The company plans to issue the shares within 12 months of obtaining the registration document from the China Securities Regulatory Commission and will apply for listing and trading on the board upon completion of the issuance.
In addition, the company will change its English name from Knowledge Atlas Technology Joint Stock Co to Z.AI Co to align with its operational needs.
(Reporting by Anjali Singh in Bengaluru; Editing by Rashmi Aich)