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SenseTime quickly restarted its listing plan but excluded U.S. investors

2021/12/20

SenseTime(0020.HK), which delayed a Hong Kong initial public offering by concerns over U.S. sanctions last Monday, reopened orders in a week. Trading is expected to start Dec. 30 with unchanged in its issuance scale, fund-raising amount, and pricing range. It still plans to issue 1.5 billion shares, with an entry fee of about HKD 4,030 per lot, and a maximum of nearly 6 billion (HKD) in funds raised but excluding U.S. investors from subscription. In the revised prospectus, the related risks are disclosed. The group stated that the ability to raise funds may be limited, the liquidity and market price of publicly traded securities may be adversely affected by the lack of participation of US investors. Some securities companies still expect mainland investors would respond enthusiastically.


Chinese artificial intelligence firm SenseTime Group Inc. secured about $512 million from nine cornerstone investors. State-backed Mixed-Ownership Reform Fund and Shanghai Xuhui Capital Investment Co. are among those that have committed to buying the shares, and the Hong Kong Science and Technology Park Venture Capital Fund newly joined. The total subscription amount has increased to nearly 4 billion (HKD).


上星期一宣佈延遲上市,一星期後宣布重啟上市計劃的商湯(0020.HK),發行規模、集資金額,和定價範圍維持不變,仍計劃發行15億股,每手入場費約4,030港元,集資最多近60億元,但排除了美國投資者認購,在經修訂的招股章程中,披露了相關風險。集團表示,集資能力或會受限,公開交易證券的流動性和市價,可能因為缺少美國投資者的參與,而有不利的影響。


市況不穩,但有券商預期,內地投資者反應踴躍,今次招股反應可能較上次更理想。


商湯最大的基石投資者,仍是國資委委託、中國誠通發起的混合所有制改革基金,新加入徐匯資本,和香港科技園創投基金等,九個基石投資者,合共認購金額增加至近40億元。


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