Skip to content

China AI Giant SenseTime Dives as Much as 51% as Lockup Expires

  • Its investor base likely “more concentrated,” Union Bancaire
  • Other China tech names also saw insiders selling recently
Updated on

Chinese artificial intelligence software maker SenseTime Group Inc. slumped as much as 51% in Hong Kong on Thursday, after a lock-up of its shares expired following its December initial public offering.

The shares ended the day down 47% at HK$3.13, their lowest ever, and below their IPO price of HK$3.85. A lock-up on a portion of the stock owned by cornerstone investors and shareholders -- amounting to 23.4 billion of shares -- expired on Wednesday.