SenseTime Group says will make debut in Hong Kong on Dec 17

Chinese artificial intelligence company SenseTime Group said in a filing on Tuesday it will make its debut at the Hong Kong Stock Exchange on December 17.

The company aims to raise up to HK$5.985 billion ($767.7 million) in its initial public offering in Hong Kong. It plans to sell 1.5 billion primary shares within a price range of HK$3.85 to HK$3.99 each.

SenseTime said nine cornerstone investors have signed up for its IPO.

Founded in 2014, SenseTime is a global AI pioneer. Its business covers a wide range of areas including smart city, smart life and smart cars. It supports the production of AI models and software development in various fields through a unified AI infrastructure.

Since its founding, the company has completed 12 rounds of financing, with a total investment of $5.2 billion.

Its prospectus showed that SenseTime's revenue in the first half of 2021 was 1.652 billion yuan ($259.4 million). Its revenue in 2020 stood at 3.45 billion yuan.