Shares of Chinese autonomous vehicle maker Horizon Robotics opened 28.3% higher on the Hong Kong stock exchange on Thursday after the company raised $696 million in an initial public offering.The deal is the largest IPO in Hong Kong in 2024 after it sold 1.

Baillie Gifford & Co. and Norges Bank Investment Management were among the investors in Horizon Robotics’ $696 million Hong Kong initial public offering, according to people familiar with the matter.

Beijing-headquartered tech firm, listed under the 9660 stock code, traded at HK$5.14 at the opening bell, up from its IPO price of HK$3.99.

Horizon Robotics, a Chinese autonomous driving company, has raised $696m (5bn yuan) through an initial public offering (IPO) in Hong Kong. This makes it Hong Kong’s largest IPO for the year, according to a report by Reuters.

CHINESE autonomous driving firm Horizon Robotics has priced its shares at the top of its range to raise HK$5.4 billion (S$913.4 million) according to a term sheet seen by Reuters, making it the biggest Hong Kong initial public offering (IPO) this year.

Horizon Robotics, a Chinese provider of software and hardware used in autonomous driving systems, priced its Hong Kong initial public offering at the top of the range to raise HK$5.4 billion ($696 million),

ALIBABA Group Holding and Baidu are among the cornerstone investors in the Hong Kong initial public offering of Horizon Robotics, a Chinese provider of software and hardware used in autonomous driving systems,

By Scott Murdoch and Donny Kwok SYDNEY (Reuters) -Shares of Horizon Robotics soared 28.3% in its trading debut on Thursday after the Chinese autonomous vehicle maker raised $696 million in this year's largest initial public offering (IPO) in Hong Kong.

Shares of Horizon Robotics climbed in their trading debut in Hong Kong Thursday, adding to optimism over a revival in initial public offerings in the Asian financial hub.