In this April 4, 2018 photo, the object detection and tracking technology developed by SenseTime Group Ltd is displayed on a screen at the Artificial Intelligence Exhibition & Conference in Tokyo, Japan. (KIYOSHI OTA / BLOOMBERG)

HONG KONG - SenseTime Group the Chinese mainland artificial intelligence software maker, relaunched its IPO in Hong Kong Monday to sell 1.5 billion shares at a price range of between HK$3.85 (49.4 cents) and HK$3.99 per share.

In a revised filing to the Stock Exchange of Hong Kong, the company said nine cornerstone investors will subscribe to 997.04 million shares worth $511.6 million, accounting for 66.47 percent of the offer of class B shares as part of the international offering. This amount is calculated at HK$3.99 per share, the upper end of the indicative price range. This would also make up about 3 percent of the total issued share capital of the company, assuming the over-allotment option is not exercised.

ALSO READ: SenseTime weighing HK IPO delay as investor deadline looms 

The State-owned Mixed-Ownership Reform Fund, controlled by China Structural Reform Fund Corporation, is among the cornerstone investors, and has subscribed to $200 million of shares.

SenseTime Group, which has an office at the Science Park in Sha Tin, delayed the IPO last week following sanctions imposed by the United States. The HKSTP Venture Fund, the corporate investment arm of the Hong Kong Science and Technology Parks Corporation, has secured $5 million worth of shares.

READ MORE: SenseTime deal to see construction of the first AI park in M'sia

SenseTime Group said the shares “have not been and will not be registered under the US Securities Act, or the securities laws of any state or other jurisdiction of the United States and may not be offered or sold, pledged or transferred within the United States or to, or for the account or benefit of, any US Investors.” On Dec 10, the US Treasury Department designated SenseTime Group as a Chinese military-industrial complex company effective Feb 8.

The company aims to raise $767 million in the offering.

Contact the writer at bandara@chinadailyhk.com