SenseTime Group, Inc. Class B (HK:0020) has released an update.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
SenseTime Group Inc. has successfully completed the placement of new Class B shares, raising around HK$1.995 billion for the further development of its AI infrastructure and general working capital. The placement, which constituted about 6.45% of the previously issued Class B shares, was conducted under the general mandate with all conditions met. The net proceeds will primarily fund the enhancement of SenseCore, generative AI research, and product development.
For further insights into HK:0020 stock, check out TipRanks’ Stock Analysis page.