American Invest Hub
  • Politics
  • Investing
  • Business
  • Latest News

American Invest Hub

  • Politics
  • Investing
  • Business
  • Latest News
Business

Can Horizon Robotics revitalize Hong Kong’s IPO market with its $696 million listing?

by admin October 16, 2024
October 16, 2024
Can Horizon Robotics revitalize Hong Kong’s IPO market with its $696 million listing?

Horizon Robotics, a prominent player in the realm of autonomous driving technology, has announced its intention to secure up to $696 million through an initial public offering (IPO) in Hong Kong.

This move comes as the city’s capital markets begin to exhibit signs of revitalization following a prolonged period of inactivity lasting nearly two years.

According to the company’s regulatory filings, Horizon Robotics plans to offer 1.36 billion shares, with pricing set between HK$3.73 and HK$3.99 ($0.51) each.

Should this IPO succeed, it will represent the largest public listing in Hong Kong for 2024, surpassing the anticipated $650 million IPO from China Resources Beverage, which commenced its book-building process earlier this week.

Prior to these developments, the Hong Kong IPO market had experienced a significant downturn, reaching multi-year lows as Chinese regulators maintained a tight grip on approvals for mainland companies seeking to raise funds outside of China.

In a positive sign for Horizon Robotics, cornerstone investors have already committed to purchasing $219.8 million worth of shares.

Notable contributions include bids of $50 million each from Alisoft China and Baidu, underscoring strong interest from major players in the technology sector.

Specializing in the production of advanced driver assistance systems and autonomous driving solutions, Horizon Robotics caters to the growing demand for innovative passenger vehicle technology within China.

The company also counts Volkswagen among its stakeholders.

The IPO process is set to finalize its share pricing on October 21, with trading expected to commence on the Hong Kong Stock Exchange on October 24.

In its filings, Horizon Robotics detailed plans to allocate 70% of the funds raised toward research and development over the next five years, while an additional 10% will be directed to sales and marketing initiatives.

The post Can Horizon Robotics revitalize Hong Kong’s IPO market with its $696 million listing? appeared first on Invezz

0
FacebookTwitterGoogle +Pinterest
previous post
Sherwin-Williams: future dividend king gets overbought, expensive
next post
Vodafone share price rally has stalled: buy, sell, or hold?

Related Posts

Here’s why the Uranium ETF URA has gone...

October 17, 2024

S&P 500 Index forecast ahead of FOMC decision,...

May 5, 2025

UK retailers warn of price hikes in 2025...

January 9, 2025

Vietjet secures $300M funding, eyes Boeing expansion amid...

April 10, 2025

Bill Ackman raises stake in Hertz: here’s why...

April 18, 2025

SPCE stock price analysis after the $12 billion...

March 7, 2025

Zeta Global stock has suffered a harsh reversal:...

October 25, 2024

The Trump empire, reimagined: from real estate to...

March 26, 2025

June home sales slump as median sales price...

July 24, 2024

Apple’s new AI wall tablet aims to centralise...

November 13, 2024

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Latest News

    • Interview: Strategic location gives Brazil Potash cost advantage in domestic fertiliser market, says CEO Matt Simpson

      June 1, 2025
    • Canada’s Q1 GDP expands by 2.2%, driven by exports spike ahead of potential US tariffs

      June 1, 2025
    • President Trump to host farewell for Elon Musk as DOGE leader steps away

      June 1, 2025
    • UK’s digital banks face divergent fortunes: Starling stumbles, Monzo and Revolut soars

      June 1, 2025
    • Trump wants Apple to shift iPhone production from India to the US: here’s what it means

      May 18, 2025

    Categories

    • Business (3,012)
    • Investing (2,455)
    • Latest News (1,994)
    • Politics (1,530)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: americaninvesthub.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 americaninvesthub.com | All Rights Reserved