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SenseTime shares fall almost 50% after lock-up expires

Financial Times LogoFinancial Times1 mo ago

SenseTime shares fall almost 50% after lock-up expires

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The company’s shares fell as low as HK$2.90 (US$0.37) in the morning trading session on Thursday, their lowest-ever level and well below the listing price of HK$3.85.

SenseTime was forced to postpone its initial public offering when the US put it on an investment blacklist over its alleged links to the Chinese military.

Yet the selling pressure could persist, with another block of shares owned by SenseTime’s shareholders to expire by December 29, according to company filings.


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Article Details

Author / Journalist: Cheng Leng

Category: MarketsFinanceInvesting

Topics: Shares Chinese Cornerstone Lock-up Sensetime Company Investors State Tech Financial

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2022-06-30, 08:12:50

News Timezone: GMT -5:00

News Source URL: ft.com

Language: English

Reading Time: 3 minutes read

Article Length: 503 words

Coverage Area: United States

Availability: Desktop Web, Mobile Web

News ID: 22108

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About Financial Times

Financial Times Logo

Main Topics: MarketsFinanceInvesting

Official Website: ft.com

Update Frequency: 16 posts per day

Year Established: 1888

Headquarters: United States

News Last Updated: 8h ago

Coverage Areas: United States

Ownership: Independent Company

Publication Timezone: GMT -5:00

News Language: English

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Publisher ID: #3

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