Chinese artificial intelligence startup SenseTime Group has received approval for an initial public offering in Hong Kong.
Reuters reported in August the company was planning to raise up to $2 billion in the deal, based on information from sources.
Hong Kong-based SenseTime is backed by major investors such as SoftBank Vision Fund and Alibaba Group Holdings
The company provides technology-based applications, including facial recognition, video analysing and autonomous driving.
SenseTime was among eight Chinese tech companies placed on a U.S. blacklist in 2019 amid trade tensions between Beijing and Washington.
SenseTime said at the time it strongly opposed the U.S. trade restrictions and would work with relevant authorities to resolve the situation.