Alibaba-backed AI startup said to mull up to US$1bil IPO - Tech News - News Summed Up

Alibaba-backed AI startup said to mull up to US$1bil IPO - Tech News


Megvii, the owner of facial recognition developer Face++, is considering an initial public offering in Hong Kong that could net as much as US$1bil (RM4.09bil), people familiar with the matter said. Megvii is weighing an IPO to raise between US$500mil (RM2.04bil) and US$1bil (RM4.09bil) with Hong Kong as a destination, the people said, requesting not to be named because the matter is private. Deliberations are at an early stage and no final decision has been made as the details of the plans could still change, the people said.


Source: The Star January 11, 2019 08:26 UTC



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