DeepSeek Hires CITIC for Potential Shanghai IPO

DeepSeek has hired CITIC Securities to prepare for a potential initial public offering on Shanghai’s STAR Market, Reuters reported on September 9, citing two people familiar with the matter. The reported appointment moves the Chinese AI company’s listing preparations into a more formal advisory phase, although the terms of any offering have not been set.

CITIC Securities joins DeepSeek’s reported STAR Market IPO preparations

Reuters, via Investing.com, reported, citing two people familiar with the matter, that DeepSeek hired CITIC Securities for a potential domestic IPO on Shanghai’s STAR Market; neither DeepSeek nor CITIC Securities had publicly confirmed the reported hiring. The South China Morning Post reported that CITIC Securities was one of four underwriters selected for the planned STAR Market listing, without identifying the other three or their roles. The Shanghai Stock Exchange describes the STAR Market as its technology-innovation board for Chinese companies, meaning the reported potential listing would be on a domestic exchange rather than an overseas venue.

2026 IPO process targeted, with valuation and deal size still open

DeepSeek aims to begin the IPO process in 2026, Reuters reported. That target concerns the start of the process, not a confirmed listing date.

As of the September 9 report, key transaction details remained unresolved, including the offering’s timing, size and target valuation. The reported adviser and underwriter appointments therefore should not be read as confirmation of final deal terms or a completed listing plan.

For now, the concrete reported development is the assembly of a Shanghai-focused underwriting group led in part by CITIC Securities. Any next measurable step would be the beginning of the IPO process in 2026, subject to the still-undetermined timetable.

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