Chinese AI firm Megvii Technology’s plans for a $500 million listing in Hong Kong have been dealt a setback, with regulators in the city asking the company – which has been blacklisted by the U.S. government – for more information, three sources said.
Beijing-based Megvii did not win approval for its initial public offering (IPO) at a hearing with the Hong Kong Stock Exchange’s Listing Committee on Thursday, the people with knowledge of the matter told Reuters.
