---
title: "Horizon Robotics started its IPO in Hong Kong on October 16th, with Alibaba, Baidu, and many other well-known institutional investors participating in the subscription"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/216913321.md"
description: "Horizon Robotics started its IPO in Hong Kong on October 16, planning to globally issue 1,355,106,600 shares with an offering price range of HKD 3.73 to HKD 3.99 per share, expecting to raise up to approximately HKD 5.4 billion. Renowned institutions such as Alibaba and Baidu participated in the subscription, with a total amount of around USD 220 million. Horizon Robotics is a leading supplier of ADAS and AD solutions, planning to allocate about 70% of the funds raised for research and development. The shares are expected to be listed on October 24"
datetime: "2024-10-15T22:55:18.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/216913321.md)
  - [en](https://longbridge.com/en/news/216913321.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/216913321.md)
---

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# Horizon Robotics started its IPO in Hong Kong on October 16th, with Alibaba, Baidu, and many other well-known institutional investors participating in the subscription

On October 16, Horizon Robotics (9660.HK), a leading company in the intelligent driving technology sector, launched its IPO in Hong Kong. In this IPO, Horizon Robotics plans to globally issue 1,355,106,600 shares, with 135,511,200 shares for public offering in Hong Kong, accounting for approximately 10%; 1,219,595,400 shares for international placement, accounting for approximately 90%, with an additional 15% over-allotment option. The price range for the offering is HKD 3.73 to HKD 3.99 per share, with a board lot of 600 shares. The maximum fundraising amount is around HKD 5.4 billion, and the shares are expected to be listed on the Hong Kong Stock Exchange on October 24.

During the IPO period, the company attracted enthusiastic participation from numerous well-known domestic and foreign institutional investors. Alibaba, Baidu, Dajiang Group, and a Ningbo municipal government fund are cornerstone investors, with a total subscription of approximately USD 220 million (around HKD 1.7 billion). Horizon Robotics conducted a listing hearing on the Hong Kong Stock Exchange on October 8, with Goldman Sachs, Morgan Stanley, and CICC International acting as joint sponsors.

Horizon Robotics is a leading provider of advanced driver assistance systems (ADAS) and high-level autonomous driving (AD) solutions in the market. The company adopts a concept of coordinated development between software and hardware, integrating leading algorithms, specialized software, and advanced processing hardware in its solutions to provide core technologies for advanced driver assistance and high-level autonomous driving, thereby enhancing the safety and experience of drivers and passengers.

With the advantage of integrated software and hardware solutions, Horizon Robotics has seized significant growth opportunities in the industry over the past three years. As of September 30, the company's integrated software and hardware solutions have been adopted by 27 OEMs, 42 OEM brands, and installed in 290 models, with a cumulative total of 152 models reaching SOP. According to data from AVC, based on the total installed capacity of solutions, since the large-scale production of solutions in 2021, Horizon Robotics is the first and largest Chinese company to provide pre-installed mass-produced advanced driver assistance and high-level autonomous driving solutions annually.

According to the prospectus, approximately 70% of the net proceeds raised by the company will be used for research and development purposes over the next five years, including advanced driver assistance and high-level autonomous driving solutions and core key technologies; approximately 10% will be used for sales and marketing expenses; approximately 10% will be used for strategic investments in its joint ventures (especially Cool Ridge) to expand and enhance its technological capabilities; and approximately 10% will be used for general corporate purposes and working capital needs.

Prior to the IPO, Horizon Robotics had already gained recognition from numerous well-known investment institutions and industrial capital, including Volkswagen Group, SAIC Group, GAC Capital, Great Wall Motors, Chery Automobile, FAW Group, BYD, CATL, and many other automotive capital and upstream and downstream companies in the industry chain, as well as continuous investments from domestic and foreign renowned financial institutions such as Sequoia Capital, Hillhouse Capital, and IDG Capital. With the support of the capital market, it is believed that Horizon Robotics will further consolidate its leading position in the intelligent driving sub-market and achieve higher levels of growth

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