Chinese artificial intelligence start-up 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 U.S. investment blacklist.
SenseTime plans to sell 1.5 billion shares in the IPO, with the final price due to being 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 U.S. 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.
Reuters