SenseTime plans Hong Kong IPO relaunch Monday, sources say

Chinese artificial intelligence startup SenseTime Group plans to keep its Hong Kong initial public offering (IPO) at $767 million as it considers re-launching the withdrawn deal as early as Monday, four people with direct knowledge of the matter said. A spokesperson for SenseTime, which withdrew its Hong Kong IPO on Monday after the administration of U.S. President Biden put the company on a blacklist, declined to comment to Reuters. The U.S. Treasury added SenseTime to a list of “Chinese military-industrial complex companies,” last week accusing it of having developed a facial recognition programme to determine a target’s ethnicity, with a focus on identifying ethnic Uyghurs.

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