We are pleased to announce that on 30 December 2021, China Merchants Securities (HK) Co., Limited (“CMS (HK)”, a subsidiary of China Merchants Securities International Company Limited), acting as one of the Joint Global Coordinators of SenseTime Group Inc. (“SenseTime” or “the Company”, stock code: 20.HK), successfully assisted the Company to commence trading of its shares on the Main Board of The Stock Exchange of Hong Kong Limited (“HKEx”). A total of 1.5 billion shares are issued and offered under the Global Offering, at an offer price of HK$3.85 per share, raising a total of approximately US$740 million (before the exercise of the over-allotment option) or US$852 million (assuming the over-allotment option is fully exercised).
SenseTime, the largest AI software company in Asia in terms of revenue in 2020, rose to the challenge of a volatile market environment and successfully completed its Hong Kong listing, which has reaffirmed the attractiveness of the city’s capital markets to China and Hong Kong-based innovative tech companies and set the stage for entrepreneurial companies raising funds in the Hong Kong bourse to fuel their future research and development. As one of the Joint Global Coordinators of SenseTime’s IPO, CMS (HK) is fully committed to supporting the initial public offering of SenseTime and is honored to be part of the trusted syndicate team, accompanying the Company and overcoming obstacles throughout its listing journey on the Hong Kong Stock Exchange.
Leveraging the close relationship with China Merchants Group and the comprehensive cross-border corporate finance and capital market platform, CMS (HK) has orchestrated a coordinated marketing effort which has contributed to SenseTime’s landmark debut listing. CMS(HK) introduced numerous key government-owned enterprises, government agencies and our Group’s business teams to the Company as potential cornerstone investors, and facilitated business conferences with top-level executives to further the AI commercialization and foster strategic alliance across a wide spectrum of industries. SenseTime’s IPO once again showcased the depth and breadth of CMS(HK)’s extensive distribution network and capabilities in the Greater China and the Asia Pacific Region. CMS(HK) interacted with over 100 institutional investors onshore and abroad including sovereign wealth funds, long-only funds, China funds, multi-strategy funds, private equity funds, corporate investors and family offices through investor meetings, site visits and investor education events organized by CMS(HK), as well as management roadshow, deepening investors’ understanding of the Company. CMS(HK) secured high quality demand from renowned Chinese long-only funds and high-net-worth individuals during the bookbuilding process, laying a solid foundation for the successful public offering of the Company and its listing as the first AI stock on the main board of the Hong Kong Stock Exchange.
SenseTime’s IPO received positive responses from the capital markets. A total of nine cornerstone investors participated in the IPO, including Mixed-Ownership Reform Fund, Xuhui Capital, Shanghai Guosheng Group, Shanghai AI Fund, SAIC Motor, Guotai Junan Investments, HKSTP Venture Fund, C-MER and Taizhou Culture & Tourism. Both International Placing and Hong Kong Public Offering received slight over-subscription.
About SenseTime
SenseTime is a leading AI software company with a focus on computer vision technologies, serving a broad range of industries. In terms of revenue in 2020, the Company is the largest AI software company in Asia and the largest computer vision software provider in China. The Company helps customers drive productivity, creativity and efficiency with its AI software platforms. Fueled by technological excellence and scale effects, the Company has achieved leading market positions in smart business, smart city, smart life and smart auto. SenseTime’s business is underpinned by original and cutting-edge research, recognized by over 70 first-prize awards in global academic competitions, more than 600 top-tier academic paper publications and over 8,000 AI patents and patent applications.
About CMSI
China Merchants Securities International Company Limited ("CMSI"), a wholly-owned subsidiary of China Merchants Securities Co., Ltd ("China Merchants Securities", Stock Code: 600999.SH/6099.HK), headquartered in Hong Kong, is the main overseas business platform of China Merchants Securities, and the vital bridge between China Merchants Securities and the international capital markets.
CMSI has established subsidiaries in different international financial centers such as Hong Kong, London and Seoul; providing clients in both mainland China and overseas with a one-stop full range of integrated financial services, including stocks and futures brokerage, corporate finance, sales and trading, asset management, private equity and global commodities and futures, etc.
Leveraging Hong Kong while engaging the world, relying on the century-old brand of "China Merchants", the strong industrial network coverage and the resource advantages accumulated in mainland China and overseas, CMSI strives to become an international modern securities brokerage firm with a full range of financial service capabilities through creating values with excellent services, as well as the best Chinese securities brokerage firm with international competitiveness.