AI Startup SenseTime relaunches Hong Kong IPO to raise $767 million

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

After being placed on a US investor blacklist, SenseTime’s first attempt for listing was shelved last Monday. According to the filings, SenseTime wants to offer 1.5 billion shares in the IPO, with the exact price to be determined on Thursday.

The US Treasury added SenseTime to a list of “Chinese military-industrial complex companies,” accusing it of developing a facial recognition algorithm to detect the ethnicity of a target, with a concentration on identifying ethnic Uyghurs.

SenseTime stated in its amended prospectus that the investment ban had no effect on the company’s business activities.

Related posts

Leave a Comment