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Jun 29, 2022

SenseTime Dives as Much as 51% in Hong Kong After Lockup Expires

Jeanny Yu, Bloomberg News

Signage for SenseTime Group Inc. atop the company's headquarters in Shanghai, China, on Friday, Dec. 3, 2021. Chinese artificial intelligence giant SenseTime rose on its first day of trading in Hong Kong after a rocky initial public offering that was delayed by concerns over fresh U.S. sanctions. Photographer: Qilai Shen/Bloomberg

Signage for SenseTime Group Inc. atop the company's headquarters in Shanghai, China, on Friday, Dec. 3, 2021. Chinese artificial intelligence giant SenseTime rose on its first day of trading in Hong Kong after a rocky initial public offering that was delayed by concerns over fresh U.S. sanctions. Photographer: Qilai Shen/Bloomberg , Bloomberg

(Bloomberg) -- SenseTime Group Inc. slumped as much as 51% in Hong Kong trading on Thursday, after a lock-up of its shares expired following its initial public offering.

The company slumped to trade at as low as HK$2.91 apiece, below its initial public offering price. A lock-up on a portion of the company’s stock -- amounting to 25.29 million shares - expired on Wednesday.

©2022 Bloomberg L.P.

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