HORIZONROBOT-W IPO Oversubscribed by 32.8x

$HORIZONROBOT-W (09660.HK)$ has announced its initial public offering (IPO) results, reporting a 33.83 times subscription rate with a 100% success rate for one-lot (600 shares) applications. The international offering was 13.81 times subscribed.

Final Offer Price: $3.99 (upper limit of the price range)
Net Proceeds: $5.142 billion
Listing Date: Expected on Thursday, October 24th.
Horizon Robotics, specializing in Advanced Driver Assistance Systems (ADAS) and Autonomous Driving (AD) solutions for passenger vehicles, offered 1.355 billion shares globally, with 10% allocated for Hong Kong.

Four cornerstone investors, including Alibaba’s Alisoft China Holding and $BIDU-SW (09888.HK)$ , collectively subscribed US$220 million in shares.