Horizon Robotics to raise HK$6.4bln in share placement

Chinese autonomous driving solutions provider Horizon Robotics (9660) has raised HK$6.38 billion through a top-up share placement in Hong Kong .

The company placed 639 million Class B ordinary shares at a price of HK$9.99 per share, which represents a 5.75 percent discount to its last closing price on Thursday . 

The placement shares account for approximately 4.4 percent of the company's enlarged issued share capital .

According to the company's filing, the net proceeds will be used to optimize its capital structure and support its sustainable development. 

The funds are earmarked for expanding overseas market operations, investing in research and development to enhance technological capabilities, supporting the large-scale application of mid-to-high-end advanced driver-assistance solutions, investing in emerging sectors such as its Robotaxi initiative, and making strategic investments in upstream and downstream business partners.