According to Nikkei, SenseTime Group still maintains its target of selling 1.5 billion shares, at a price of HK$3.85 to HK$3.99 per share, the final price to be fixed on December 23. However, now the company will rely on platform investors to buy about $511 million worth of shares, or about 67% of the shares, up from $450 million previously, or 58% of the shares. promissory note.
SenseTime Group still holds the target of selling 1.5 billion shares
SenseTime said the US blacklisting does not impose any restrictions on the company’s business, but the lack of US investors could hinder its ability to raise capital in the future. and reduce transaction liquidity.
The US Treasury Department on December 10 added SenseTime to its list of “Chinese military-industrial complex companies”, accusing it of developing a facial recognition program to identify target ethnicities, focusing on targeting Uighur ethnic group.
Chinese authorities and SenseTime deny these claims. “Our products and services are intended for civilian and commercial use, and not for any military application,” SenseTime said in its revised filing Dec.
The Chinese AI firm previously “strongly opposes” the blacklist’s designation, saying the allegations against the company are baseless. Shares of SenseTime will begin trading on the Hong Kong Stock Exchange on December 30.