The IPO (Initial Public Offering) and the overall markets of the nation of Hong Kong have been taking major hits this year as the nation has been seeing some major changes in the political unrest that has been haunting the nation for months and we think this will be affecting the growth of markets for a very long time now. But there was an IPO that was supposed to hit the markets pretty soon, but amid these issues, the IPO has been shifted to be listed later.
A new IPO from the biometrics industry was set to debut in the Hong King markets, but it has now been pushed back. Megvii is a biometrics major that is known for its facial recognition capabilities. Regulators have called upon the facial recognition unicorn to provide more information on its planned IPO. The regulation people met the biometric giant and asked some major questions as the Chinese have been accused of using such software and such companies to increase the surveillance of the Muslims in China and trouble them. The applications of the IPO were asked by the regulators, and there are still some major concerns, so there will be more questioning with the biometric giant.
So the IPO is expected to make an appearance very late at the markets, and this will be impacting the markets hugely as the allegations reach other biometric majors of the nation’s listings. Hong Kong markets will be failing if the political unrest continues.
Tags : Megvii , IPO , Hong Kong ,