SenseTime relaunches $767m Hong Kong IPO

China's SenseTime relaunched its $767 million Hong Kong IPO on Monday (December 20).

It comes a week after the artificial intelligence start-up was placed on a U.S. investment blacklist and postponed its listing.

Sensetime kept its target of selling 1.5 billion shares according to regulatory filings.

But the firm will now rely on cornerstone investors to buy around $511 million - or around 67% - of its shares.

That is up from the 58% of stock previously planned for.

SenseTime said being on the U.S. blacklist did not place any restrictions on its business operations.

The firm warned, though, that a lack of U.S. investors could hurt its ability to raise capital in the future.

Earlier this month, the U.S. Treasury added SenseTime to a list of so-called 'Chinese military-industrial complex companies'.

It said the company developed a facial recognition program to determine a target's ethnicity - with a focus on identifying ethnic Uyghurs.

U.N. experts and rights groups believe more than a million people - mainly Uyghurs and other Muslim minorities - have been detained in a large system of camps in Xinjiang province in recent years.

China denies these claims.

SenseTime said the group's products are intended for civilian and commercial uses - not for any military application - and said accusations against it were 'unfounded'.

SenseTime shares are due to start trading on the Hong Kong Stock Exchange on December 30th.

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