Shares in SenseTime jumped more than 20 per cent on its first day of trading almost three weeks after it postponed its initial public offering when the US blacklisted China’s biggest artificial intelligence company.
SenseTime raised $740m in Hong Kong on Thursday after its original listing plans were derailed when Washington barred Americans from investing in the company.
Joe Biden’s administration has accused SenseTime, which specialises in facial recognition software, of enabling human rights abuses against Muslim Uyghurs in China’s north-western Xinjiang region. The company has denied the charges.
The listing was swiftly revived after Chinese state-backed entities stepped