China's Sensetime postpones US$767mil Hong Kong IPO after US ban

📆 12/13/2021 9:21 AM
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CHINESE artificial intelligence start-up SenseTime Group postponed its $767 million Hong Kong initial public offering (IPO) on Monday after being placed on a U.S. investment blacklist.

Sensetime said it remained committed to completing the offering and would publish a supplemental prospectus and an updated listing timetable.

However, instead of setting its listing price on Friday, as scheduled, it found itself in urgent talks with the Hong Kong Stock Exchange and its lawyers over the future of the deal amid reports about the looming blacklist. The company said it would refund all application monies in full without interest to all applicants who subscribed its shares in the offering process.

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