Is SenseTime Stock Publicly Trading? What we know about the IPO

The artificial intelligence company has gone public in Hong Kong after being blacklisted by US investors due to alleged connections with human rights abuses in China.

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SenseTime Group has gone public in Hong Kong. The company was blacklisted after allegations broke that it was connected to human rights abuses against primarily-Muslim ethnic minorities in Northwestern China. Here’s what we know about the IPO.

What we know about the SenseTime IPO

On January 21, 2022, China-based artificial intelligence company, SenseTime Group Inc. went public on the Stock Exchange of Hong Kong (HKG). The company sold around 1.5 billion stocks, raising approximately $740 million (down from its original goal of $2 billion). The proposed stock price was HK$3.85.

The IPO was briefly postponed in December after the US Treasury placed SenseTime on an investment blacklist for allegedly committing human rights abuses against the Uyghur people in the Xinjiang region of Northwestern China.

The Chinese government has been accused of targeting the Uyghur, who are primarily Muslim, with the intent of forcefully obstructing their religious practices.

US authorities accused SenseTime of developing recognition programmes that can identify the ethnicity of targets. The company has denied these claims, stating that it does not do business in Xinjiang and did not know its technology was being used there.

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