AI unicorn SenseTime mulling HongKong, China IPO: sources
[NEW YORK] SenseTime Group, China's largest artificial intelligence company, is exploring a dual listing in Hong Kong and China as it closes in on US$1.5 billion of pre-IPO financing, according to people familiar with the matter.
The SoftBank Group-backed company is seeking a pre-funding valuation of about US$8.5 billion before kicking off an IPO, the people said, requesting not to be named because the matter is private. SenseTime is leaning towards a dual listing in Hong Kong and China though it hasn't finalised a timeline, the people said. Its IPO plans are preliminary and subject to change, they added.
The startup is kickstarting plans for an IPO that had been waylaid by pandemic-induced market volatility as well as a US blacklisting that threatens to curtail its access to vital American technology. It's now considering tapping markets in Hong Kong and mainland China simultaneously, betting on a recent resurgence of investor interest in new listings.
SenseTime is at the vanguard of a rising crop of Chinese players that have benefited from the country's rapid adoption of facial recognition technology and AI across a plethora of sectors. The company is working with 127 cities across its home country to use cameras to analyse everything from traffic to residential complex security.
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Passengers from mainland China to be allowed temporary transit through Hong KongHong Kong International Airport said on Thursday that passengers from mainland China would be able to transit through Hong Kong to other ...
Read more »
Passengers from mainland China to be allowed temporary transit through Hong KongHong Kong International Airport said on Thursday that passengers from mainland China would be able to transit through Hong Kong to other destinations from Aug. 15 until Oct. 15, in a boost for its dominant carrier Cathay Pacific Airways Ltd . Transit in the other direction, inbound to mainland China
Read more »
Passengers from mainland China to be allowed temporary transit through Hong KongHong Kong International Airport said on Thursday that passengers from mainland China would be able to transit through Hong Kong to other ...
Read more »
Malaysia issues rare rebuke against China over South China SeaKUALA LUMPUR (BLOOMBERG) - Malaysia has rejected China's expansive maritime claims in the South China Sea in a rare public rebuke of its largest trading partner.. Read more at straitstimes.com.
Read more »
China to raise issues surrounding WeChat, TikTok in trade talks with US: ReportTrade negotiators from the United States and China will discuss the implementation of the phase one trade deal in the coming days, with China ...
Read more »