Megvii: Nod for VIE-structured Chinese AI developer Megvii to list on Shanghai's Star Market signals further approvals

Megvii Technology, an artificial intelligence company with a variable interest entity (VIE) structure, has been given the nod to list in Shanghai, indicating that Beijing is ramping up efforts to encourage home listings of overseas-domiciled Chinese companies.The Shanghai Stock Exchange's listing committee on Thursday approved the Cayman Islands-incorporated company known for its Face++ facial-recognition software to launch an initial public offering on the technology-heavy Star Market,...