Horizon Robotics to raise HK$4.7 billion from share placements

Horizon Robotics (9660) will raise HK$4.7 billion by placing shares at a discount of 6.8 percent to improve capital structure, only seven months after its initial public offering in Hong Kong.

The Beijing-based intelligent driving chip developer announced today the placing of existing shares and top-up subscription of new shares at HK$6.93 apiece, 6.85 percent lower than Wednesday’s close of HK$7.44.

The net proceeds are estimated to be about HK$4.67 billion, which will be used to optimize its capital structure and support the healthy and sustainable development of the company, including accelerating business expansion, Horizon said in a statement.

In October 2024, Horizon raised HK$5.4 billion from its IPO in Hong Kong.

Shares of Horizon fell about 4.6 percent to HK$7.1 apiece as of 11.46 am in Hong Kong.

STAFF REPORTER