HORIZONROBOT-W IPO: BABA and BIDU Join as Cornerstone Investors

$HORIZONROBOT-W (09660.HK)$, specializing in Advanced Driver Assistance Systems (ADAS) and Autonomous Driving (AD) solutions, has launched its Hong Kong IPO. The company plans to offer 1.355 billion shares, with 10% reserved for the Hong Kong public and 90% for the international offering. The price range is between $3.73 and $3.99 per share, and the 1-lot entry fee (600 shares) is $2,418.14.

Four cornerstone investors, including $BABA-W (09988.HK)$ and $BIDU-SW (09888.HK)$, have committed $220 million in total. The IPO is expected to raise approximately $4.972 billion based on the median offer price of $3.86.

The offer period runs until October 21st, with the listing set for October 24th.