Reconova Technologies Co, a Chinese mainland's artificial intelligence company specializing in visual perception, is planning an initial public offering in the Hong Kong Special Administrative Region as soon as this year, according to people familiar with the matter.

The Intel Capital Corp-backed firm is working with advisers on a share sale that could raise about $100 million, the people said, asking not to be identified because the information is not public.

Deliberations are ongoing and details such as size and timing may change, the people added.

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A representative for Reconova didn’t respond to requests seeking comment.

The Xiamen-based company, which also counts Greenland Holdings Corp and Citic Securities Co as backers, is one of several AI startups on the mainland looking to go public in the HKSAR to tap investor interest in the rapidly growing sector.

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Founded in 2012, Reconova develops vision technologies such as facial recognition that can be used in airports, stores, industrial complexes and commercial vehicles, its website shows.