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SenseTime shares jump 23% in Hong Kong debut

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SenseTime shares jump 23per cent in Hong Kong debut

SenseTime Group shares jumped as much as 23 per cent from their initial public offering price as they debuted on the Hong Kong Stock Exchange on Thursday .

The gains were in contrast to most analysts' expectations that the shares would slip or trade flat due to the relative weak demand during the IPO process. The US Treasury added SenseTime to a list of"Chinese military-industrial complex companies" on Dec 10, accusing it of having developed a facial recognition programme to determine ethnicity, with a focus on identifying ethnic Uyghurs.

 

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SenseTime shares to open up 1.6per cent in Hong Kong debutSenseTime Group shares are set to open 1.6per cent higher from their initial public offering (IPO) price when they debut on the Hong Kong Stock Exchange on Thursday.The Chinese artificial intelligence (AI) start-up raised US$740 million in its IPO and priced its shares at HKUS$3.85 (US$0.4937) each.
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »