Alibaba-backed (BABA) artificial intelligence video platform ShengShu Technology is weighing an initial public offering in Hong Kong, Bloomberg said Tuesday, citing people familiar with the matter.

ShengShu aims to raise more than $500 million and is working with China International Capital and Citic Securities on the planned share sale, the report said.

Deliberations are ongoing and details of timing and sale size are subject to change, the report added.

Alibaba and ShengShu did not immediately respond to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)