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By Kane Wu and Scott Murdoch
(Reuters) – China’s artificial intelligence startup SenseTime Group will withdraw its initial public offering (IPO) in Hong Kong on $ 767 million on Monday and update its prospectus after being blacklisted in the US investment list, two sources told Reuters.
Sources with direct news of the situation, but because the information has not yet been named for the public, said the official announcement on the Hong Kong Stock Exchange would be made soon.
The Roadside Administration’s blacklist of U.S. investments on Friday put SenseTim on immediate response to a request for comment.
Three sources confirmed SenseTime’s decision to take the IPO out of its current form, and two of them added that the company would update the risk factors in its prospectus with a view to restarting the IPO process.
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