Report
Sumeet Singh
EUR 93.44 For Business Accounts Only

Sensetime lock-up

SenseTime Group (STG) raised US$741m in its Hong Kong IPO in Dec 21. The IPO barely made it through and was priced at the bottom of its IPO price range.

STG is a leading AI software company. Its software is used by customers from a wide range of industries. STG was the largest AI software company in Asia in terms of 2020 revenue, as per Frost & Sullivan (F&S).

In this note, we will talk about the lock-up dynamics and updates since our last note.

Our previous notes on the IPO:
SenseTime Group (商汤集团) Pre-IPO - Fast-growing but still finding its footing
SenseTime Group (商汤集团) Pre-IPO - Paying the price of diversification
SenseTime Group (商汤集团) IPO - Regulatory risks + overhang + poor sentiment
SenseTime (商汤集团) IPO Trading - Poor Demand
Underlying
Provider
Aequitas Research
Aequitas Research

Aequitas Research is a leading ECM research firm with a focus on IPOs and placements/follow-on offerings across the Asia Pacific with deal size of over USD100m. 

Since 2015, we have covered 400+ IPOs and 450+ placements with a hit rate of 73% and 65%, respectively. We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic analysis.
 
Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis. We also provide a more quant driven analysis on placement/follow-on offerings.
 
Markets that we cover include:
Hong Kong,
China ADRs,
India,
Japan,
Australia, and
ASEAN.

Analysts
Sumeet Singh

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