SenseTime launches Hong Kong IPO to raise up to $767 million -term sheet
Information about SenseTime launches Hong Kong IPO to raise up to $767 million -term sheet
Kevin David Scam or Legit
By Kane Wu and Scott Murdoch
HONG KONG (Reuters) -Chinese artificial intelligence startup SenseTime Group is looking to raise up to $767 million in its Hong Kong initial public offering (IPO), according to a term sheet seen by Reuters.
The deal launched on Monday for the company to sell 1.5 billion primary shares within a price range of HK$3.85 to HK$3.99 each, the term sheet said.
Demand from investors to buy SenseTime’s shares had already covered the institutional tranche of the IPO within hours of it launching, three sources told Reuters.
The sources could not be named as the information was not yet made public. SenseTime did not immediately respond to a request for comment on its IPO books being already covered.