An artificial intelligence company in China that had a listing for $767 million has relaunched it again.
China’s SenseTime Group has relaunched its Hong Kong share sale for $767 million (£580 million).
People in the United States were banned from investing in the company a week ago, so the stock was taken down.
Washington says that SenseTime is working on facial recognition software that can figure out people’s ethnicity, with a focus on identifying ethnic Uyghurs.
There are going to be shares of the company on the Hong Kong Stock Exchange starting to trade on December 30th.
In regulatory filings, SenseTime says it still wants to sell 1.5 billion shares in the IPO for between HK$3.85 (£0.37; $0.49) and HK$3.99 each. There will be a final price on Thursday, and we’ll find out about it then.
The planned listing was put on hold last week when the US Treasury Department put SenseTime on a list of “Chinese military-industrial complex companies.” This means that Americans can’t invest in certain companies from that list.
There is no truth to the claims made by the US government about SenseTime. “Our group’s products and services are not intended for use by the military,” the company said in a statement Monday.
The company also said that even though Washington’s investment bank didn’t have an effect on its business, the lack of American investors could make it hard to raise money.