Chinese artificial intelligence company SenseTime is relaunching its initial public offering in Hong Kong with the help of investment from state-backed entities after being blacklisted by the US.
In regulatory filings to the Hong Kong stock exchange on Monday, the AI company revealed Beijing’s crucial role in reviving the postponed $767m listing, with shares due to start trading on December 30.
State-backed entities dominate the list of cornerstone investors that are expected to buy about two-thirds of the offering. The listing was derailed by Washington when SenseTime was put on an investment blacklist this month.
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