SenseTime shrinks Hong Kong IPO size by 62 per cent to US$768 million, as Chinese tech sell-off undermines valuation

//SenseTime shrinks Hong Kong IPO size by 62 per cent to US$768 million, as Chinese tech sell-off undermines valuation

SenseTime shrinks Hong Kong IPO size by 62 per cent to US$768 million, as Chinese tech sell-off undermines valuation

SenseTime, China’s largest artificial intelligence (AI) firm, is trimming its stock offering in Hong Kong by more than half, as sentiment on technology stocks has soured amid a sell-off triggered by regulatory and privacy concerns. The Hong Kong-based unicorn plans to raise as much as HK$5.99 billion (US$768 million) by selling 1.5 billion shares at HK$3.85 to HK$3.99 each, according to a term sheet seen by the Post. The company was earlier aiming for about US$2 billion in proceeds. The…

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By | 2021-12-06T05:35:43+00:00 December 6th, 2021|Technology|Comments Off on SenseTime shrinks Hong Kong IPO size by 62 per cent to US$768 million, as Chinese tech sell-off undermines valuation