China's SenseTime to raise $415 million in share placing to fund AI expansion

SenseTime

17/04/2026 03:21

SINGAPORE, April 17 (Reuters) - Chinese artificial intelligence software company SenseTime 0020.HK said on Friday it would raise about HK$3.25 billion ($415.2 million) by placing 1.7 billion new class B shares at HK$1.91 each, to fund AI infrastructure expansion, generative AI research and working capital.

The placing price represents discounts of about 8.6% to SenseTime's Thursday close, 5.5% to its five-day average and 6.8% to its 30-day average, the filing said.

SenseTime shares fell as much as 4.8% to HK$1.99 on Friday morning, putting them on track for their biggest one-day drop since March 23.

Hong Kong-listed SenseTime said it plans to use 40% of the proceeds for its SenseCore AI infrastructure, 30% for generative AI research and commercialization, 20% for AI applications in vertical industries and 10% for general working capital.

SenseTime describes itself as an AI software company focused on AI infrastructure, large models and industry applications, according to its website.

HSBC HSBA.L is the sole global coordinator and sole placing agent for the deal, the filing showed.

($1 = 7.8275 Hong Kong dollars)

 (Reporting by Yantoultra Ngui; Editing by Kevin Buckland)

 ((Yantoultra.Ngui@thomsonreuters.com;))