China's Zhipu AI Files for Shanghai STAR Board Listing, Plans A-Share Sale

China's Zhipu AI, formally Knowledge Atlas Technology JSC, announced plans late Monday to list on the Shanghai Stock Exchange's Sci-Tech Innovation Board and issue A shares. The proposed issuance would comprise 2% to 8% of the company's total share capital, translating to 9.1 million to 38.8 million shares with a nominal value of 0.10 yuan each. Zhipu AI did not disclose how much it aims to raise from the offering. The artificial intelligence firm intends to issue the shares within 12 months after receiving registration clearance from the China Securities Regulatory Commission. Listing and trading on the STAR board would follow the completion of the share sale. As part of the move, the company said it will change its English name to Z.AI Co to better reflect its business operations. Zhipu AI is a prominent player in China's competitive AI sector but faces increasing capital demands to fund expansion.