HONG KONG (Reuters) – China’s artificial intelligence startup SenseTime Group is considering whether to move forward with a $ 767 billion initial public offering in Hong Kong after the U.S. added it to a blacklist of investments, two sources familiar with the situation told Reuters.
Sources said on Saturday that the company had not yet made a final decision on whether or not to move forward with the list, and one added that if it went ahead it would consider reporting additional risks.
A SenseTime spokesperson declined to comment on the IPO changes.
SenseTim lost its IPO pricing date on Friday after the media reported that a blacklist was near.
The appointment was later confirmed on Friday when the U.S. Treasury Department added SenseTime to its list of “China’s military-industrial complex companies,” including China, Myanmar, and North Korea. and Bangladesh.
The Treasury Department has accused SenseTime of developing facial recognition programs that can determine the ethnicity of a target, with a particular focus on identifying ethnic Uighurs.
SenseTime said in a statement on Saturday that it had acted “against allegations and accusations made in connection with the stone”, calling the allegations unfounded.
Adding SenseTim to the U.S. blacklist would prohibit U.S.-based investors from buying its shares.
SenseTim expected to sell $ 1.5 billion worth of shares for HK $ 3.85 to HK $ 3.99 in IPO. He was due to set a final price on Friday and allocate shares to institutional investors, according to company documents.
Fusion Media or anyone involved with Fusion Media will not be held liable for any loss or damage as a result of relying on the information contained in the data, estimates, charts and buy / sell signals contained in this website. Please be informed that one of the most risky forms of investment possible is the full information on the risks and costs associated with trading in the financial markets.
Source link
