Horizon Robotics to raise $6.6 billion through share sale, 2nd time in four months

Horizon Robotics (9660) plans to raise up to HK$6.6 billion through a share sale, the second time in less than four months, according to media reports. 

The self-driving-car chip developer intends to issue 639 million shares at a price between HK$9.79 and HK$10.29 a piece, the reports said, citing a terms sheet. That represents a discount ranging from 2.9 percent to 7.6 percent to the closing price of HK$10.6 on Thursday. 

It aims to raise between HK$6.3 billion and HK$6.6 billion from the share placement. 

The Beijing-based company’s shares rose 3.3 percent before the news and have more than tripled this year on the artificial intelligence frenzy.

In June, the company raised HK$4.7 billion through a placement at a 6.8 percent discount. It received HK$5.4 billion from its initial public offering in Hong Kong in October last year.