The Hong Kong initial public offering (IPO) of Chinese AI company SenseTime is back on, after the firm filed updated listing documents with the exchange, reports Bloomberg. The IPO was initially put on hold after a US government blacklisting pushed the company into delaying the process. The AI startup said it will reopen orders for its Hong Kong offering on Monday for its first-time share sale, according to a statement to the stock exchange. Trading is expected to begin December 30.
China International Capital Corp, Haitong International Securities Group and HSBC Holdings are listed in the prospectus as joint sponsors. Guotai Junan Securities (Hong Kong) and BOCOM International Securities ceased to be joint bookrunners, joint lead managers and underwriters in the revised filing.
The company is still seeking to raise as much as $767 million from the listing, offering 1.5 billion shares at $0.49 to $0.51 apiece. SenseTime said in a statement last week that it would issue refunds to retail investors, after the company failed to price its IPO on December 10 as previously expected. It had aimed to start trading on December 17.