Stock Track | SEYOND Soars 10% in Intraday Trading Following SPAC Merger and Successful Equity Placement

Stock Track12-10

SEYOND (HKG:2665) surged 10% in intraday trading on Wednesday, marking a strong debut after its backdoor listing via a merger with TechStar Acquisition Corporation. The stock opened at HK$11, reflecting investor enthusiasm for the company's growth prospects.

The company raised HK$360.5 million in net proceeds from the issue and allotment of 37.08 million shares at HK$10 each, as part of the DE-SPAC transaction. This funding is expected to bolster SEYOND's position in the competitive LiDAR market.

SEYOND is a leading provider of image-grade LiDAR solutions, with a 12.8% global market share in automotive LiDAR revenue. Its partnerships with major players like NIO, DeepWay, and Pony.ai, along with large-scale orders in robotics, underscore its technological edge and market potential.

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