SenseTime Group (HKG:0020, HKG:80020) raised HK$2.79 billion in net proceeds by placing 1.87 billion class B shares to at least six independent places at HK$1.50 apiece, a Tuesday Hong Kong bourse filing said.

The placed shares represent 5.12% of the enlarged number of issued class B shares and about 5.04% of the enlarged number of existing issued shares of the company.

The company plans to use the proceeds to support its core business's development, further development of generative AI, and towards the working capital of the company.