Zhipu AI Hong Kong shares fall on Shanghai's Sci-Tech Board listing plan
BUZZ-Zhipu AI Hong Kong shares fall on Shanghai's Sci-Tech Board listing plan ** Shares of Chinese AI startup Knowledge Atlas Technology JSC 2513.HK fall 7% to HK$1,363, their lowest level since May 26, amid dilution concern due to Shanghai listing
** Stock on track for third straight session of decline
** Knowledge Atlas, also known as Zhipu AI, intends to apply for a domestic listing on the Shanghai Stock Exchange's Sci-Tech Innovation Board, the company said late Monday
** Zhipu AI said the proposed issuance of A shares would represent between 2% and 8% of the company's total share capital, or 9.1 million to 38.8 million shares
** It did not disclose the amount it plans to raise from the issue
** Since Hong Kong debut on January 8, stock up 1,088% from the offer price of HK$116.2 per share
** YTD, Hang Seng TECH Index .HSTECH down 7.5%
(Reporting by Donny Kwok)