Horizon Robotics, a leading player in the autonomous driving sector, has successfully raised HK$5.41 billion in its Hong Kong IPO, valuing the company at HK$53.4 billion. The company’s impressive revenue growth, driven by a strategic partnership with Volkswagen, and its strong margins are attracting investors eager to capitalize on the burgeoning autonomous driving market.
Alibaba and Baidu are demonstrating their confidence in the Chinese autonomous driving market by investing in Horizon Robotics’ upcoming IPO. The company, specializing in advanced driver-assistance systems, aims to raise nearly $700 million on the Hong Kong Stock Exchange. Alibaba, Baidu, and Beijing Financial Holdings are committing to purchasing over 30% of Horizon Robotics’ shares, ensuring strong institutional and retail investor interest.
