China’s largest artificial intelligence (AI) company, SenseTime, has announced the delay of its $767 million IPO in Hong Kong after appearing on a US investment blacklist, reports the Financial Times. SenseTime said in a Monday filing to the Hong Kong stock exchange it would refund application money paid by investors and issue a revised prospectus before completing the offering and listing “soon.”
The delay of one of Hong Kong’s largest listings in months comes after Chinese ride-hailing giant Didi announced it would delist from New York and switch to Hong Kong months after its IPO.
“There will be a postponement of the global offering and the listing and the company expects to publish the supplemental prospectus . . . together with the updated listing timetable,” SenseTime said.
The US on Friday added SenseTime to its blacklist of Chinese military-industrial complex companies, part of broader human rights sanctions on people and entities linked to China, Myanmar, North Korea and Bangladesh.