The Chinese high-tech company planned to place 1.5 million shares.
The Chinese high-tech company SenseTime has been forced to postpone plans to list on the Hong Kong Stock Exchange in the amount of $768 million after the U.S. authorities blacklisted it. This was reported on Monday by the South China Morning Post newspaper, citing sources.
SenseTime is the largest company in China engaged in the field of artificial intelligence. Its subsidiary develops facial recognition technologies that are involved in surveillance systems and, according to the United States, are able to determine a person’s ethnicity. At the same time, the technology is allegedly aimed primarily at “identifying ethnic Uighurs.”
Last Friday, this company was added by the U.S. authorities to the economic blacklist, which provides for a ban on investments in it by American citizens.
During the listing in Hong Kong, SenseTime planned to place 1.5 million shares and rise up to HK$5.99 billion ($768 million). The company has not yet officially commented on plans to postpone the IPO. She is expected to make a statement during the day.