SenseTime Reopens IPO, Gets $512 Million From Cornerstones

Cameras for SenseTime Group Ltd.'s autonomous driving system are mounted inside a Lincoln Motor Co. MKZ sedan during a test-drive in Hangzhou on Sept. 6, 2018. Photo: Bloomberg

(Bloomberg) — Chinese artificial intelligence firm SenseTime Group Inc. secured about $512 million from nine cornerstone investors, as it reopened orders Monday for a Hong Kong initial public offering delayed by concerns over U.S. sanctions.

State-backed Mixed-Ownership Reform Fund and Shanghai Xuhui Capital Investment Co. are among those that have committed to buying the shares, according to the latest terms of the IPO.