Z.ai, the Chinese artificial intelligence model developer listed in Hong Kong, is seeking to raise about HK$15.7 billion (US$2 billion) through a placement of roughly 21.97 million new H shares at HK$714 apiece, according to a company filing on Sunday.
The company also announced a 20.14 billion yuan (US$3 billion) convertible-bond sale, according to its filing with the Hong Kong stock exchange.
Z.ai, also known as Zhipu AI, closed at HK$793 on Friday, down 73 per cent from its intraday high of…
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