Megvii plans to refile as HK IPO application expires

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By Jonathan Breen
27 Feb 2020

Artificial intelligence company Megvii Technology’s IPO prospectus expired on Tuesday. But despite delaying the deal, the firm intends to resubmit a listing application, according to a source familiar with the matter.

The Chinese issuer, known best for the Face++ online facial recognition technology, submitted a draft application with the Hong Kong Stock Exchange (HKEX) on August 25, 2019. Based on HKEX’s rules, Megvii is required to update the financial numbers in its IPO documents after six months. It now has ...

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