News Formal

China's Sensetime to withdraw US$767 million Hong Kong IPO - sources

  • 📰 ChannelNewsAsia
  • ⏱ Reading Time:
  • 30 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 15%
  • Publisher: 66%

Business Business Headlines News

Business Business Latest News,Business Business Headlines

Chinese artificial intelligence start-up SenseTime Group will withdraw its US$767 million Hong Kong initial public offering (IPO) on Monday and update its prospectus after being placed on a U.S. investment blacklist, two sources told Reuters. The sources, who have direct knowledge of the situation but cou

Chinese artificial intelligence start-up SenseTime Group will withdraw its US$767 million Hong Kong initial public offering on Monday and update its prospectus after being placed on a U.S. investment blacklist, two sources told Reuters.

The sources, who have direct knowledge of the situation but could not be named as the information was not yet public, said an official announcement would be made to the Hong Kong Stock Exchange shortly. SenseTime, which was placed on a U.S. investment blacklist on Friday by the Biden Administration, did not immediately respond to a request for comment.

Three sources confirmed SenseTime's decision to pull the IPO in its current form, while two of those people added the company would update the risk factors in its prospectus with the aim of relaunching the IPO process.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 6. in BUSİNESS

Business Business Latest News, Business Business Headlines

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

China's SenseTime Hong Kong IPO in limbo after US blacklisting - sourcesHONG KONG : Chinese artificial intelligence startup SenseTime Group is considering whether it can proceed with a planned US$767 million Hong Kong initial public offering after the U.S. added it to an investment blacklist, two sources familiar with the situation told Reuters.The sources said on Saturday th
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

China's SenseTime Hong Kong IPO in limbo after US blacklisting: SourcesHONG KONG: Chinese artificial intelligence startup SenseTime Group is considering whether it can proceed with a planned US$767 million Hong Kong initial public offering after the US added it to an investment blacklist, two sources familiar with the situation told Reuters. The sources said on Saturday
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »