Softbank finally has a small win coming its way. After being weighed down by a heavy list of overvalued portfolio companies, Softbank is soon going to witness SenseTime’s IPO listing on the Hong Kong Exchange at a possible valuation of $2b.
Well, not so soon. SenseTime might want to first check off its cybersecurity consultation appointment due on Dec 13th, and clear out those security concerns that have been imposed. It’s not personal, though — all “data processing entities” looking for a Hong Kong listing have to jump through this hoop, ‘cos you know… Chinese crackdown and all.
why it matters
Looks like China’s largest AI startup has decided to go public at an interesting time. On one hand, this move signals China's ambitions to pull ahead of the US in the global artificial intelligence race. On the other hand, China’s slew of data regulations released in the past month might put SenseTime in a super tough spot.