BUZZ-HK-listed SenseTime hits near 4-month low on discounted share sale

Reuters12-18 10:40
BUZZ-HK-listed SenseTime hits near 4-month low on discounted share sale

** Shares of SenseTime Group Inc 0020.HK fall 6.1% to HK$1.85, their lowest level since August 25, and on course for a fourth consecutive session of declines

** Stock marks its biggest intraday pct fall since December 16, and is top pct loser in the Hang Seng Tech Index .HSTECH, which is down 0.7%

** The AI infrastructure application and development group says it planned to sell 1.75 billion new shares to third-party investors in a share sale, raising HK$3.15 billion ($404.84 million) for development of its core businesses in AI Cloud and AI infrastructure

** The new shares will be issued at HK$1.80 each, representing 8.6% discount to Wednesday's close of HK$1.97 each

** YTD, stock up 27.5%, Hang Seng Tech Index shares up 21.2%

($1 = 7.7808 Hong Kong dollars)

(Reporting by Donny Kwok)

((donny.kwok@thomsonreuters.com))

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