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Bloomberg
Chinese artificial-intelligence (AI) giant Megvii Technology Ltd is facing additional queries from the Hong Kong bourse ahead of its planned initial public offering, people familiar with the matter said.
Some questions relate to public complaints about whether the company adequately disclosed risks related to US sanctions, the people said, asking not to be identified because the information is private. Megvii, which met Hong Kong Exchanges & Clearing Ltd’s listing committee, will need to address the concerns before it receives formal clearance to go ahead with the share sale, the people said.
A recent online campaign has been encouraging people to send complaints to the
listing committee and HKEX CEO Charles Li, lobbying the exchange not to approve Megvii’s listing application.