Chinese artificial intelligence startup SenseTime Group is discussing the fate of its planned $767 million Hong Kong initial public offering (IPO) with the city’s stock exchange on Friday, two people with direct knowledge of the matter said.
The deal launched on Monday for the company to sell 1.5 billion primary shares within a price range of HK$3.85 to HK$3.99 each, the term sheet said.
Eight cornerstone investors have signed up for the IPO and subscribed for US$450 million, or 58.6% of the deal, ahead of its launch.
It had planned to raise up to US$2 billion in its Hong Kong IPO, Reuters reported previously, but scaled back the size of the deal before its launch.
Read more/Source: Reuters
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