Softbank-backed SenseTime launches IPO in Hong Kong to raise up to $767m

Softbank-backed SenseTime launches IPO in Hong Kong to raise up to $767m

SenseTime Co-Founder Xu Chiheng demonstrates surveillance software of his company on a laptop at the SenseTime office in Beijing, China, October 11, 2017. REUTERS/Thomas Peter/File Photo

Chinese artificial intelligence startup SenseTime Group is looking to raise up to $767 million in its Hong Kong initial public offering (IPO), according to a term sheet seen by Reuters.

The deal launched on Monday for the company to sell 1.5 billion primary shares within a price range of HK$3.85 to HK$3.99 each, the term sheet said.

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