Asia
SenseTime Group Seeking HK$3.25 Billion via Share Offering; Shares Up 4%
SenseTime Group (HKG:0020) is looking to raise HK$3.25 billion via a share offering, according to a Hong Kong bourse filing Friday.Shares of the company declined nearly 4% in morning trade Friday.The artificial intelligence firm is seeking investors for 1.7 billion shares of the company priced at HK$1.91 apiece, representing 4.09% of its class B shares and 4.04% of its total issued shares, as enlarged by the placing.Proceeds from the placement will be used to expand the company's AI infrastructure and research and development activities, SenseTime said.
HKG:0020
