SenseTime relaunches $767 million Hong Kong IPO after U.S. investment ban
Information about SenseTime relaunches $767 million Hong Kong IPO after U.S. investment ban
Kevin David Scam or Legit
By Scott Murdoch
HONG KONG (Reuters) – Chinese artificial intelligence start-up SenseTime Group relaunched its $767 million Hong Kong IPO on Monday, a week after pulling the listing in the wake of the company’s inclusion on a U.S. investment blacklist.
SenseTime retained its target of selling 1.5 billion shares for between HK$3.85 and $HK3.99 each, according to regulatory filings, with the final price to be set on Thursday.
However, it will now rely on cornerstone investors to buy about $511 million, or around 67%, of shares, up from $450 million, or 58%, of shares previously.
SenseTime said its inclusion on the U.S. blacklist did not impose any restrictions on its business operations, but added the resulting lack of U.S. investors could impede its ability to raise capital …