Caixin
Dec 06, 2021 07:11 PM
BUSINESS

Chinese AI Giant SenseTime Tries for $767 Million IPO in Hong Kong

A Sensetime booth at an Expo in Fuzhou, East China’s Fujian province, on April 25. Photo: VCG
A Sensetime booth at an Expo in Fuzhou, East China’s Fujian province, on April 25. Photo: VCG

SenseTime Group Inc., a leading Chinese artificial intelligence (AI) startup, wants to raise as much as HK$5.99 billion ($767.69 million) in its Hong Kong IPO, far less than rumored, as it opened subscriptions for the offering on Monday.

SenseTime aims to sell 1.5 billion shares for between HK$3.85 to HK$3.99 each, with the total accounting for 4.5% of its outstanding shares, according to a term sheet seen by Caixin.

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