Here in the United States, we’re counting down to the Nubank and HashiCorp IPOs that should touch down in mere days. But those are not the only technology offerings to keep eyes on at the moment. SenseTime, a Chinese AI company, is also listing this week, providing a new window into the value of the country’s upstart tech companies under a changed regulatory regime.
As Didi looks to delist from U.S. markets amid hubbub that Alibaba could do the same, it’s not a surprise that SenseTime will list in Hong Kong and not the Nasdaq or NYSE.
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Despite listing close to home, however, SenseTime is not having the best time possible in its public-market debut. The company’s IPO, according to the South China Morning Post, “plans to raise as much as HK$5.99 billion (US$768 million) by selling 1.5 billion shares at HK$3.85 to HK$3.99 each.” Raising three-quarters of a billion dollars is nothing to snee …