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China tech

SenseTime to seek up to $1bn private funding, deferring Hong Kong IPO

Weak investor sentiment over coronavirus and US blacklist hurts AI startup's plans

Hong Kong-based SenseTime, which counts Alibaba, Qualcomm and SoftBank among its backers, began working with investment bank China International Capital Corp. on its initial public offering last year.   © Reuters

HONG KONG -- Chinese artificial intelligence startup SenseTime Group has deferred its plan for an up to $750 million initial public offering in Hong Kong this year and instead aims to tap private markets, people briefed on the plan said, joining the list of companies scrapping share-sale plans as the novel coronavirus outbreak batters markets.

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