The maker of artificial intelligence chips for self-driving cars went public in Hong Kong last year
Horizon Robotics, which makes artificial intelligence chips for self-driving cars, plans to raise around HK$4.67 billion (US$595 million) with a share placement, as it looks to grow its business and fund more research and development efforts.
Current shareholders, including 5Y Capital, Morningside China TMT Fund and HRRB Holdings agreed to sell shares to at least six independent investors through a book-building process managed by Goldman Sachs, Morgan Stanley and UBS, Horizon said.
On Wednesday, Horizon shares closed at HK$7.44 a share.
The 681 million shares represented about 5.2 per cent of the company’s share capital, about 2.1 per cent of the voting rights in the company’s issued share capital and 4.9 per cent of its enlarged share capital after the issuance of the stock.
