Deals
Chinese AI Giant Megvii Faces HKEX Queries on IPO Application
- Megvii asked to address questions after listing hearing
- Company filed application for Hong Kong share sale in August
Facial-recognition demonstration at the Beijing Megvii Co. booth at the MWC Shanghai exhibition.
Photographer: Qilai Shen/BloombergThis article is for subscribers only.
Chinese artificial-intelligence giant Megvii Technology Ltd. is facing additional queries from the Hong Kong bourse ahead of its planned initial public offering, people familiar with the matter said.
Some questions relate to public complaints about whether the company adequately disclosed risks related to U.S. sanctions, the people said, asking not to be identified because the information is private. Megvii, which met Hong Kong Exchanges & Clearing Ltd.’s listing committee Thursday, will need to address the concerns before it receives formal clearance to go ahead with the share sale, the people said.