GUANGZHOU AUTOMOBILE GROUP-H

08 Aug

Xiaomi-Backed AI Chipmaker Black Sesame Falls in Hong Kong Debut as AI Frenzy Wanes

stp2y0 CommentsRAG modelsartificial intelligence, BLACK SESAME INTERNATIONAL H, GUANGZHOU AUTOMOBILE GROUP-H, Hong Kong, HONG KONG EXCHANGES & CLEAR, IPOs, Markets, NINGBO JOYSON ELECTRONIC -A, stocks, Technology, war, XIAOMI CORP-CLASS B

Shares of artificial intelligence chipmaker Black Sesame International Holding Ltd. tumbled as much as 35% on their debut, dealing a blow to Hong Kong’s efforts to lure more technology listings. The Xiaomi Corp.-backed company’s shares fell to as low as HK$18.28 Thursday in the Hong Kong Stock Exchange and closed the day 27% lower. They had been priced at HK$28, the bottom of the marketed range in an initial public offering that raised HK$1.04 billion ($133 million). Source link lol

06 Aug

Xiaomi-Backed AI Chipmaker Black Sesame Prices Hong Kong IPO at Bottom of Range

stp2y0 CommentsRAG modelsartificial intelligence, BLACK SESAME INTERNATIONAL H, China Renminbi Spot, GUANGZHOU AUTOMOBILE GROUP-H, Hong Kong, IPOs, Markets, Price Range, stocks, Technology, TENCENT HOLDINGS LTD, XIAOMI CORP-CLASS B

Black Sesame International Holding Ltd. has priced its Hong Kong initial public offering at the low end of the marketed range, people with knowledge of the situation said, as the recent global selloff in stocks piles extra pressure on new share issues. Black Sesame, which designs chips for autonomous driving systems and is backed by Xiaomi Corp., was offering 37 million shares at HK$28 to HK$30.30 each. At HK$28 per share, the IPO raised HK$1.04 billion ($133 million), still making it one of the biggest in Hong Kong this year. Source link lol