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Chinese A.I. Firm Megvii Files For Hong Kong IPO Amidst US-China War

The company is confident to raise upto $1million

Chinese AI firm Megvii Technology Ltd has filed for Initial Public Offering(IPO) in Hong Kong. The company plans to raise between $500 million and $1 billion during this IPO. The IPO will make Megvii China’s first publicly-listed A.I. firm, beating competitors like SenseTime and CloudWalk. The date of IPO is not yet released.

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Other companies have postponed their IPOs in Hong Kong due to the recent anti-government protests. Megvii plans to hold the IPO as it doesnot do business in HongKong. Megvii is backed by e-commerce giant Alibaba and state-owned enterprises such as Bank of China Group Investment.

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Qadir AK

Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.

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