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China’s Sensetime to withdraw $767 million Hong Kong IPO

by Mike Robinson

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© Reuters. FILE PHOTO – The logo for artificial intelligence startup SenseTime can be seen in its Hong Kong office on August 18, 2021. Picture taken August 18, 2021. REUTERS/Tyrone Siu/File Photograph

Scott Murdoch, Kane Wu

(Reuters) – The Chinese startup SenseTime Group is withdrawing its initial public offering in Hong Kong of $767million (IPO) Monday, after being placed on a U.S. investor blacklist. Three sources confirmed this to Reuters.

Sources, who were not able to be identified because the information wasn’t yet publicly available, stated that an announcement would soon be made to Hong Kong Stock Exchange.

SenseTime, placed on a U.S. blacklist for investment on Friday by President Biden, didn’t immediately reply to a request.

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