On 24 October, Horizon Robotics (stock code: 9660.HK) successfully listed on the Main Board of the Hong Kong Stock Exchange. Horizon Robotics' global offering of approximately 1.355 billion shares, priced at HK$3.99 per share, raised total proceeds of approximately HK$5.41 billion. This is the largest IPO project in Hong Kong so far this year in terms of fund raising, excluding the secondary listing in both places, and is also the largest technology IPO on the Hong Kong stock market this year.

In this transaction, Davis Polk & Wardwell acted as Hong Kong and U.S. counsel to the Issuer, King & Wood Mallesons acted as China counsel to the Issuer and  Maples and Calder (Hong Kong) LLP provided legal services to Horizon in relation to the relevant Cayman Islands laws.

 Goldman Sachs (Asia) L.L.C., Morgan Stanley Asia Limited and China Securities (International) Corporate Finance Company Limited are the joint sponsors of the project, and Cleary Gottlieb Steen & Hamilton (Hong Kong) and Jingtian & Gongcheng are acting as legal advisers to the sponsors and the underwriters in respect of the relevant Hong Kong and United States laws, and PRC laws, respectively.

Founded in 2015, Horizon Robotics focuses on providing core technologies for advanced assisted driving and high-level intelligent driving, and is the first and currently the largest Chinese company to mass-produce intelligent driving solutions. Since its founding, the company has completed 11 rounds of financing with a cumulative amount of more than US$3.4 billion. The funds raised will be used by Horizon for research and development, sales and marketing expansion, strategic investments in joint ventures, general corporate purposes and working capital requirements.