Megvii still wants IPO; execs filing $840M offering

Having unsuccessfully tried twice before to float an IPO, Chinese AI and biometrics firm Megvii is preparing its third try, according to China state media.

The facial-recognition algorithm developer, which is majority owned by a pair of firms owned by Alibaba, reportedly has rebooted its IPO registration, for a second time in the Shanghai Stock Exchange.

According to the statement published in state-owned Yicai Global, Megvii's leadership and financial backers want to raise at least 6 billion yuan, or …

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