The Dark Side of the Moon Considers Dual Listing on Hong Kong Stock Exchange and STAR Market

The Dark Side of the Moon is considering a simultaneous listing on the Hong Kong Stock Exchange and the STAR Market, having submitted its IPO application for the Hong Kong market. The company has indicated to investors that it may list on the STAR Market after its Hong Kong debut. Currently, the plans for the STAR Market are still in the exploratory phase and have not been confirmed. The Dark Side of the Moon aims to raise approximately $3 billion in the Hong Kong market, with the earliest potential listing in the first quarter of 2027, and a current valuation of around $50 billion. Given the weak stock performance of AI companies in Hong Kong and the large number of companies waiting to go public, The Dark Side of the Moon hopes to broaden its financing channels through dual listing to reach more investors. In June of this year, the STAR Market relaxed its listing standards for large model companies, allowing enterprises that have not yet achieved a certain revenue scale to apply, provided they have at least one large model product launched and in scaled application.

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