Asian Tech Press (Dec 13) -- Chinese AI startup SenseTime Group made an announcement on the Hong Kong Stock Exchange in which the board of directors announced that the global offering and listing will be delayed and that the company expects to publish a supplemental prospectus, an amendment to the supplemental prospectus and a supplemental prospectus that will contain an updated listing timetable, the relevant application procedures for the Hong Kong Offer Shares and other relevant information. SenseTime said it remains committed to completing the global offering and listing as soon as possible.

In the meantime, SenseTime announced that all application proceeds will be returned to applicants without interest.

On December 10, the U.S. Treasury added SenseTime Group to the list of companies in the Chinese military-industrial complex. Investment restrictions were implemented. According to U.S. policy, once included in the list, U.S. investors will not be able to trade with SenseTime in the market.

According to SenseTime's previous plan, SenseTime would issue 1.5 billion Class B shares in a global IPO in Hong Kong from December 7, of which 90 percent will be international placement shares and the remaining 10 percent will be Hong Kong public offering shares at HK$3.85 to HK$3.99 per share, and will be officially listed for trading on December 17.