China’s top AI firm SenseTime plans to raise HK$5.99 billion ($768 million) in its Hong Kong debut, down about 62% from a reported $2 billion goal. The company is selling 1.5 billion shares between HK$3.85 and HK$3.99 apiece, with the listing scheduled on Dec. 17. SenseTime’s listing comes amid Beijing’s intensified scrutiny of technology companies and their data security practices. The 7-year-old company makes facial recognition software for various fields, including security and financial services. SenseTime is valued at more than $12 billion in its most recent financing round received in January. [SenseTime announcement]