SenseTime plans to issue approximately HKD 3.2 billion, soon launching the "Token Plan" AI token scheme

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SenseTime Technologies announced that on April 16th (after the Hong Kong Stock Exchange trading hours), the company allocated 1.7 billion new Class B shares at a price of HKD 1.91 per share, with an estimated total allocation of approximately HKD 3.25B, and net proceeds of about HKD 3.23 billion.
The placement was subscribed by no fewer than six institutional investors.
The funds raised from this placement will mainly be used to support the company’s core business development, including expanding the scale of its artificial intelligence infrastructure SenseCore, especially the domestically-produced AI supercomputing cluster based on domestic chips, as well as upgrading the technology stack of domestically-produced AI cloud, and providing infrastructure for the upcoming Token Plan.

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