Hong Kong IPO boom and Chinese AI race fuel frenzy of follow-on deals

Tech companies including Z.AI raise billions through share sales, convertible bonds China's Z.AI is raising billions in follow-on deals, while the overall value of such moves hit a five-year high in the first half, according to Hong Kong Exchange data. (Source photos by Reuters and Kensaku Ihara) HONG KONG — Chinese companies are raising more equity capital through follow-on deals, a trend fueled in recent weeks by a slew of tech players seeking funds for AI expansion.

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