CICC, Huatai Exit Black Sesame’s Share Placement Deal to Infini

China International Capital Corp. and Huatai International have withdrawn from a share placement involving Infini Capital Management, the hedge fund firm whose offices were raided by authorities last week.

Black Sesame International Holding Ltd. terminated a share-placing agreement with CICC and Huatai after the investment banks pulled out of their roles. The Chinese maker of artificial intelligence chips announced the termination in a Hong Kong stock exchange filing, noting that the banks had notified the company of their intention to exit as placing agents.