SenseTime relaunches Hong Kong IPO to raise $767 million

By Daisy On Dec 20, 2021

Hong Kong: Chinese artificial intelligence startup SenseTime Group is aiming to raise up to $767 million by pricing its shares between HK$3.85 and $HK3.99 each in its second attempt at a Hong Kong IPO, according to regulatory filings on Monday.

SenseTime’s first attempt at listing was shelved last Monday after the company was placed on a US investment blacklist.

SenseTime plans to sell 1.5 billion shares in the IPO, with the final price due to be set on Thursday, the filings showed.

The company’s shares are due to start trading on the Hong Kong Stock Exchange on Dec 30.

The US Treasury added SenseTime to a list of “Chinese military-industrial complex companies,” accusing it of having developed a facial recognition programme to determine a target’s ethnicity, with a focus on identifying ethnic Uyghurs.

In its updated prospectus, SenseTime said the investment ban did not impose any restriction on the business operations of the company.

“ETtech is a sharply-focused lens that brings alive India’s tech businesses & dynamic world of startups”

Kunal Bahl, Co-Founder & CEO, Snapdeal
“I read ETtech for in-depth stories on technology companies”

Ritesh Agarwal, Founder & CEO, Oyo
“I read ETtech to understand trends & the larger India technology space, everyday”

Deepinder Goyal, Co-founder & CEO, Zomato

Stay on top of technology and startup news that matters. Subscribe to our daily newsletter for the latest and must-read tech news, delivered straight to your inbox.

For all the latest Technology News Click Here

Read original article here

Denial of responsibility! TechAI is an automatic aggregator around the global media. All the content are available free on Internet. We have just arranged it in one platform for educational purpose only. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials on our website, please contact us by email – [email protected]. The content will be deleted within 24 hours.