Slaughter and May is advising Guotai Junan and Huatai on a US$256 million placing by Sensetime Group Inc.

Slaughter and May, Hong Kong, is advising Guotai Junan Securities (Hong Kong) Limited (“Guotai Junan”) and Huatai Financial Holdings (Hong Kong) Limited (“Huatai”) as placing agents in relation to the placing of 1,673,446,000 new Class B Shares in SenseTime Group Inc. (“SenseTime”) (the “Placing”), representing approximately 5.00% of the number of issued Class A and Class B shares as at the date of announcement of the Placing and approximately 4.76% of the number of issued Class A and Class B shares as enlarged by the Placing, to raise approximately HK$2 billion (approximately US$256 million).

The Placing was announced on 21 June 2024.

The net proceeds from the Placing will be used mainly for further enhancing the scale of SenseTime’s industry leading AI infrastructure – SenseCore, supporting the further development of generative AI including large model research and product development, and for the purpose of general working capital of SenseTime.

SenseTime is a leading AI software company with a focus on computer vision technologies, serving a broad range of industries. It has been listed on the Main Board of The Stock Exchange of Hong Kong since 2021 (stock codes: 0020 (HKD Counter) and 80020 (RMB Counter)). Slaughter and May, Hong Kong, has previously advised on the global offering and listing of SenseTime.

Benita Yu, Senior Partner of Slaughter and May, Hong Kong, comments: "We are delighted to have the opportunity to continue to work with SenseTime after its IPO on its first equity fund raising post listing. Many congratulations to Guotai Junan and Huatai as well as to SenseTime for the success of the deal."