Horizon Robotics shares open up 28.3% in Hong Kong trading debut (updated)

China Resources Beverage (Holdings) Co

24/10/2024 02:35

(Adds deal details from paragraph 2)
    By Scott Murdoch and Donny Kwok
       SYDNEY, Oct 24 (Reuters) - Shares of Chinese autonomous
vehicle maker Horizon Robotics  9660.HK  opened 28.3% higher on
the Hong Kong stock exchange on Thursday after the company
raised $696 million in an initial public offering.
    The deal is the largest IPO in Hong Kong in 2024 after it
sold 1.355 billion shares at HK$3.99 each, according to the
company's filings.
    The stock began trading at HK$5.12 each, while the Hang Seng
Index  .HSI  was down 0.9% early in the session on Thursday. It
is the most actively traded stock by turnover in early trade.
    Horizon Robotic's deal eclipsed China Resources Beverage's
 2460.HK  which last week finalised its $650 million new share
sale. It is also the largest tech sector IPO in Hong Kong since
SenseTime Group  0020.HK  raised $740 million in late 2021.

 (Reporting by Scott Murdoch and Donny Kwok; Editing by Tom
Hogue and Muralikumar Anantharaman)
 ((Scott.Murdoch@thomsonreuters.com;))