Hong Kong's High Court found tycoon and pro-democracy campaigner Jimmy Lai guilty on Monday of conspiracy to collude with foreign forces in the city's highest-profile trial under a China-imposed national security law that could see him jailed for life.

The pro-democracy activist, 78, had pleaded not guilty to charges of sedition and colluding with foreign forces and faces life in prison.

Nuobikan Artificial Intelligence Technology plans to raise around $50 million via a Hong Kong listing, joining a wave of Chinese companies racing to list in the city ahead of the new year.