BBG: Alibaba-backed AI startup said to mull up to $1bn IPO

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BLOOMBERG reports: “Megvii, the owner of facial recognition developer Face++, is considering an initial public offering in Hong Kong that could net as much as $1 billion, people familiar with the matter said. Megvii is weighing an IPO to raise between $500 million and $1 billion with Hong Kong as a destination, the people said, requesting not to be named because the matter is private. Deliberations are at an early stage and no final decision has been made as the details ...