SenseTime shares jump 23% on debut after $740 million Hong Kong IPO

SenseTime shares jump 23% on debut after $740 million Hong Kong IPO

SenseTime shares jump 23% on debut after $740 million Hong Kong IPO

Information about SenseTime shares jump 23% on debut after $740 million Hong Kong IPO

Kevin David Scam or Legit


By Scott Murdoch and Kane Wu
(Reuters) -SenseTime Group shares jumped as much as 23% from their IPO price as they debuted on the Hong Kong Stock Exchange on Thursday in the city’s final major float for the year.
The Chinese artificial intelligence start-up raised $740 million in its initial public offering and priced its shares at HK$3.85 ($0.4937) each, at the bottom of the range flagged.
The deal valued SenseTime at $16.4 billion, while gains in the first trading session added up to $3.8 billion to the market capitalisation. The stock reached a high of HK$4.74, in a broader market that was up just 0.19%.
Some analysts had expected SenseTime shares to struggle on debut due to the relative weak demand during the IPO process and worries about the firm’s inclusion on …

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