HONG KONG: Shares of artificial intelligence company SenseTime rose 20% after the opening bell on Tuesday to as much as HK$9.7 apiece, up 152% since the company priced its IPO at HK$3.85 in late December.
The gains come despite U.S. investors being unable to buy the stock after the U.S. Treasury added SenseTime to a list of "Chinese military-industrial complex companies" accusing it of having developed a facial recognition programme to determine ethnicity, with a focus on identifying ethnic Uyghurs.
SenseTime raised $740 million in its initial public offering (IPO), the fifth largest in Hong Kong in 2021, according to Dealogic data.
The gains come despite U.S. investors being unable to buy the stock after the U.S. Treasury added SenseTime to a list of "Chinese military-industrial complex companies" accusing it of having developed a facial recognition programme to determine ethnicity, with a focus on identifying ethnic Uyghurs.
SenseTime raised $740 million in its initial public offering (IPO), the fifth largest in Hong Kong in 2021, according to Dealogic data.
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