Beijing's Horizon Robotics to raise $4.97b in Hong Kong IPO

It will issue 1.36 billion shares.

Beijing-based smart drive solutions provider Horizon Robotics plans to raise $4.97b (US$639.8m) in its initial public offering (IPO) in Hong Kong.

In a filing to the HKEX, the company said it will offer 1.36 billion shares in its global offering.

The company plans to issue the shares between $3.73 and $3.99 apiece.

The company will offer 135.5 million shares to the Hong Kong public and 1.22 billion Class B ordinary shares to international investors.

The company will use 70% of its IPO proceeds for research and development purposes, targeting advanced driver assistance systems (ADAS), autonomous driving (AD), and technology advancements.