Market Chatter: Alibaba-Backed AI Video Platform ShengShu Technology Weighs Hong Kong IPO

MT Newswires Live08-18 21:29

Alibaba-backed (BABA) artificial intelligence video platform ShengShu Technology is weighing an initial public offering in Hong Kong, Bloomberg said Tuesday, citing people familiar with the matter.

ShengShu aims to raise more than $500 million and is working with China International Capital and Citic Securities on the planned share sale, the report said.

Deliberations are ongoing and details of timing and sale size are subject to change, the report added.

Alibaba and ShengShu did not immediately respond to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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