Horizon Robotics (HKG:9660) raised HK$5.4 billion in its initial public offering in Hong Kong from the issuance of 1.36 billion shares, Bloomberg News reported Tuesday, citing a term sheet.
The Chinese hardware and software company for self-driving technologies priced its IPO at HK$3.99, the top of the range of as low as HK$3.73 apiece.
Cornerstone investors Alibaba (HKG:9988) and Baidu (HKG:9888) committed to purchasing about $220 million of shares in Horizon Robotics, the report said.
The company's shares will start trading Thursday.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
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