The artificial intelligence technology provider is set to raise up to $923m in an initial public offering that would score exits for Alibaba, Foxconn, Legend Holdings and SK Group.
Megvii, the China-based computer vision technology provider backed by e-commerce group Alibaba, contract manufacturer Foxconn and conglomerates Legend Holdings and SK Group, filed for an initial public offering on Friday, Bloomberg reported.
The company intends to issue up to 253 million shares on Shanghai Stock Exchange’s Star Market to potentially raise up to RMB6bn ($923m) after fees. Citic Securities is the sponsor of the offering.
The news comes after a January report stating Megvii had received regulatory clearance to…
