SenseTime relaunches US$767 million Hong Kong IPO after US investment ban

HONG KONG : Chinese artificial intelligence start-up SenseTime Group relaunched its US$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.

However, it will now rely on cornerstone investors to buy about US$511 million, or around 67per cent, of shares, up from US$450 million, or 58per cent, of shares previously. The U.S. Treasury added SenseTime to a list of"Chinese military-industrial complex companies" on Dec. 10, accusing it of having developed a facial recognition programme to determine a target's ethnicity, with a focus on identifying ethnic Uyghurs.

Some foreign lawmakers and parliaments have labelled the treatment of Uyghurs as genocide, citing evidence of forced sterilisations and deaths inside the camps. China denies these claims and says Uyghur population growth rates are above the national average.

Finance Finance Latest News, Finance Finance Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Hong Kong accuses activists of inciting poll boycottHONG KONG: Hong Kong has issued arrest warrants accusing five overseas activists of urging voters to boycott Sunday\u0027s (Dec 18) polls for the legislature - the first to take place under Beijing\u0027s \u0022patriots only\u0022 rules. Voters in the Chinese finance hub will pick new lawmakers under rules that have cut the n The dictatorship that is China. why the activist think they can still change anything ? forget it ... more chance of winning lottery If pro something do boycott, the other wins in results. Only usefulness by activist is to get a 100% boycott which they can't. So activists are stupid.
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »