SenseTime Group announced plans to raise HKD 2.5 billion, with 20% allocated for exploration in areas such as blockchain and RWA

ChainCatcher news, SenseTime announced that the company placed 1.667 billion subscription shares on July 23 (after the trading session of the Hong Kong Stock Exchange), with an expected total placement amount of approximately HKD 2.5 billion. After deducting the placement agent fees and other related expenses, the net proceeds from the placement are expected to be approximately HKD 2.498 billion. The subscriber for this placement is the international long-term capital Infini Capital.

The company intends to use 20% of the net proceeds from the placement to explore the technological integration and practice of artificial intelligence in innovative vertical fields, including but not limited to conducting business related to embodied intelligent robots, blockchain, real-world assets (RWA), digital assets, stablecoins, either independently or in collaboration with strategic partners, and obtaining relevant qualifications, as well as for general working capital.