News Snapshot:
13 Jan 2021 Share Megvii’s Hong Kong IPO application lapsed after it appeared on the US government’s Entity List. Artificial intelligence unicorn Megvii, well known for its facial-recognition technology, has initiated plans for an initial public offering (IPO) on the tech-focused Star Market of the Shanghai Stock Exchange, the Beijing bureau of the China Securities Regulatory Commission disclosed on Tuesday. The Shanghai-based company has been receiving pre-listing tutoring, a necessary step for an IPO on the Chinese mainland, from Citic Securities since September 29, which was unknown to the outside until the regulators’ disclosure. Key shareholders, such as the founders...
