Horizon Robotics Raises HK$5.14 Billion in Hong Kong IPO Ahead of Thursday Debut

MT Newswires Live10-24

Horizon Robotics (HKG:9660) raised HK$5.14 billion in net proceeds from its Hong Kong initial public offering after pricing the shares at the upper limit of its indicative price range.

The automotive solutions provider issued 1,355,106,600 shares at HK$3.99 apiece, the top end of its guidance of as low as HK$3.73 each, according to a Wednesday disclosure.

The deal's Hong Kong or public offering portion was 33.83 times oversubscribed, prompting the reallocation of 67,755,000 shares from the international offer and taking the total number of shares under the public offer to 203,266,200 shares.

The international or placing shares were 13.81 times oversubscribed, and the firm issued 1,151,840,400 shares following the reallocation.

Horizon Robotics will start trading on the Hong Kong bourse Thursday.

Price (HKD): $42514.95, Change: $-410, Percent Change: -0.96%

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