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Megvii to postpone Hong Kong IPO till next year: source

Decision follows stock exchange's request for more information

HONG KONG (Nikkei Markets) -- Chinese facial recognition technology startup Megvii Technology has decided to postpone its planned initial public offering in Hong Kong, a person familiar with the matter said on Tuesday.

The decision came after the Hong Kong stock exchange reportedly asked for more information from the company, following its inclusion in the U.S. Commerce Department's so-called Entity List. The U.S. government in October included 28 Chinese governmental and commercial organizations, including Megvii, on that list for engaging in or enabling activities involving human rights violations and abuses in China's campaign targeting predominantly Muslim ethnic minorities in the Xinjiang Uighur Autonomous Region.

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