<p>SINGAPORE, April 17 (Reuters) - Chinese artificial intelligence software company SenseTime  (0020.HK)  said on Friday it would raise about HK$3.25 billion ($415.2 million) by placing 1.7 billion new class B shares at HK$1.91 each, to fund AI infrastructure expansion, generative AI research and working capital.</p>
<ul>
<li>The placing price represents discounts of about 8.6% to SenseTime’s Thursday close, 5.5% to its five-day average and 6.8% to its 30-day average, the filing said.</li>
<li>SenseTime shares fell as much as 4.8% to HK$1.99 on Friday morning, putting them on track for their biggest one-day drop since March 23.</li>
<li>Hong Kong-listed SenseTime said it plans to use 40% of the proceeds for its SenseCore AI infrastructure, 30% for generative AI research and commercialization, 20% for AI applications in vertical industries and 10% for general working capital.</li>
<li>SenseTime describes itself as an AI software company focused on AI infrastructure, large models and industry applications, according to its website.</li>
<li>HSBC  (HSBA.L)  is the sole global coordinator and sole placing agent for the deal, the filing showed.</li>
</ul>
<p>($1 = 7.8275 Hong Kong dollars)</p>

00020

- SenseTime, a Chinese AI software company, plans to raise approximately HK$3.25 billion ($415.2 million) by issuing 1.7 billion new shares at HK$1.91 each to support its AI infrastructure and research.  
- The share price represents discounts ranging from 5.5% to 8.6% compared to recent trading averages, leading to a drop of 4.8% in its share value on Friday.  
- Proceeds will be allocated to various initiatives, including 40% for AI infrastructure and 30% for generative AI research and commercialization.

Reuters

SENSETIME-W

HSBC Holdings Plc

China's SenseTime to raise $415 million in share placing to fund AI expansion