With the Hong Kong Exchange reportedly greenlighting a revised prospectus for Megvii Technology, the Chinese facial recognition company currently blacklisted by the US, a pending IPO not only tests investor appetite at frothy valuations but whether institutional investors would participate for companies that are currently under an ethical spotlight.
Megvii’s plans to raise $500 million are now reportedly back on track after the Beijing-headquartered artificial intelligence company originally failed to win approval for its IPO in November, according to a Reuters news report.
The Hong Kong Stock Exchange’s Listing Committee whose consent is essential for any IPO candidate kicked back its application after concerns over...
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