Slaughter and May, Hong Kong, is advising CICC, Guotai Junan and Huatai as placing agents in relation to the placing of 1,865,000,000 new Class B Shares in SenseTime Group Inc. (“SenseTime”) (the “Placing”), representing approximately 5.31% of the number of issued Class A and Class B shares as at the date of announcement of the Placing and approximately 5.04% of the number of issued Class A and Class B shares as enlarged by the Placing, to raise approximately HK$2.8 billion (approximately US$360 million). The Placing was announced on 11 December 2024.
The net proceeds from the Placing will be used mainly for supporting the development of SenseTime’s core business, which includes the building of an industry-leading AI cloud; further enhancing the scale of SenseTime’s industry leading AI infrastructure – SenseCore; supporting the further development of generative AI (including large model research and product development); and for the purpose of general working capital of SenseTime.
SenseTime is a leading AI software company with a focus on computer vision technologies, serving a broad range of industries. It has been listed on the Main Board of the Stock Exchange of Hong Kong since 2021 (stock codes: 0020 (HKD Counter) and 80020 (RMB Counter)). Slaughter and May, Hong Kong, previously advised on the global offering and listing of SenseTime, as well as on its US$256 million placing in June this year.
Benita Yu, Senior Partner of Slaughter and May, Hong Kong, commented: "We are delighted to have the opportunity to work with SenseTime again, after advising on its IPO and also on its first equity fund raising post listing in June this year. We wholeheartedly congratulate CICC, Guotai Junan and Huatai, as well as SenseTime, on the successful launching of this deal."