China: Artificial Intelligence Agency Senseme Postpones IPO After US Sanctions – Economy

Chinese satellite agency SenseTime Group said on Monday it would postpone its initial public offering (IPO) in Hong Kong after it was added to the US sanctions list. The list of companies in the Chinese military-industrial complex on Friday and the postponement of its IPO will give investors time to assess the potential for change.

The U.S. list signals to companies that claim to support China’s military, citing the role of Sentimes’ face recognition technology in aiding China’s repression of the Muslim minority, especially the Uyghur people. The block list prevents Americans from investing in the company.

Senseme has raised $ 767 million at its auction and plans to go public next Friday. The company said it was committed to ending the offer and listing “soon” in Hong Kong. It added that a supplementary prospectus will be published along with an updated quote calendar and other relevant information. Source: Dow Jones Newswire.