The 3D AI startup has engaged Bank of America and China International Capital Corp to advise on a potential listing.
Vast, a 3D-modeling artificial intelligence startup backed by Alibaba Group Holding, is evaluating an initial public offering in Hong Kong. The company has tapped Bank of America and China International Capital Corp to structure the potential share sale, sources said.
No valuation or timeline has been disclosed. Vast’s backers include Alibaba, which has been expanding its investments in AI and cloud computing startups amid a broader tech sector recovery in Asia.
A Hong Kong listing would mark another high-profile tech IPO in the city, following a slowdown in new offerings over the past two years due to market volatility and regulatory scrutiny.