Horizon Robotics seeks up to HKD 5.4 billion through IPO on Hong Kong Stock Exchange

Beijing (Gasgoo)- On October 16, Horizon Robotics announced its official launch of its Initial Public Offering (IPO) on the Hong Kong Stock Exchange. According to the company's statement, it plans to issue 1.355 billion shares globally, with 135,511,200 shares (10%) allocated for the Hong Kong public offering and around 1.219 billion shares (90%) for international sale.

The price range is set between HKD 3.73 and HKD 3.99 per share, with a minimum purchase of 600 shares per lot. The company aims to raise up to HKD 5.4 billion through this offering.

The public offering in Hong Kong began at 9:00 AM on October 16 and will close at 12:00 PM on October 21. Pricing is expected to be finalized on October 22, with the shares set to begin trading on the Hong Kong Stock Exchange on October 24.

Horizon Robotics specializes in providing core hardware and software solutions for advanced driver assistance systems (ADAS) and high-level autonomous driving. The company’s IPO prospectus reveals that Horizon Robotics’ hardware and software integrated solutions have been adopted by 27 OEMs’ 42 brands, featured in 290 vehicle models.

From 2021 to 2023, Horizon Robotics’ annual revenue grew from RMB 467 million to RMB 1.552 billion, with a compound annual growth rate of 82.3%. The company recorded a 151.6% year-on-year surge in revenue in the first half of 2024, which reached RMB 935 million, with a gross margin of 79%.