AI Startup 4Paradigm Aims to Raise $113 Million in Hong Kong IPO

What’s new: Beijing-based AI startup and service provider Fourth Paradigm kicked off a long-awaited initial public offering in Hong Kong, aiming to raise a net HK$885 million ($113 million).

Fourth Paradigm, also known as 4Paradigm, will offer 18.4 million shares in a price range of HK$55.60 to HK$61.16 each, according to its regulatory filings. The offering gives the company a valuation between HK$25.8 billion and HK$28.4 billion ($3.3 billion to $3.6 billion).