Chinese artificial intelligence startup SenseTime Group is discussing the fate of its planned $767 million Hong Kong initial public offering (IPO) with the city's stock exchange on Friday, two people with direct knowledge of the matter said.
The move comes after the Financial Times reported on Thursday that the United States will put the company on an investment blacklist on Friday that would mean U.S.-based investors could not buy shares in the company.
SenseTime had planned to sell 1.5 billion shares within a price range of HK$3.85 to HK$3.99 each in the IPO. It was due to set the final price and allocate shares to institutional investors on Friday, according to the firm's filings. U.S.-based investors had lodged bids to buy stock during the bookbuilding process, one person with direct knowledge of the matter told Reuters.
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