China's Horizon Robotics falls on discounted share sale

Horizon Robotics

12/06/2025 02:56

** Shares of Horizon Robotics 9660.HK fall 6.6% to HK$6.95 lowest since June 2

** Stock set for biggest one-day pct drop since April 7

** Chinese autonomous driving solutions provider plans sale of 681 mln new shares to key shareholder in a share placement, raising about HK$4.67 bln ($595 mln) for business expansion and R&D investments

** New shares will be issued at HK$6.93 apiece, or 6.9% discount to Wednesday close of HK$7.44 each

** Key shareholder will subscribe for new shares on completion of sale of same amount of existing shares at the same price to third-party investors

** Hang Seng Tech Index .HSTECH falls 1.3%, Hang Seng Index .HSI down 0.8%

** YTD, stock up 97.2%

($1 = 7.8488 Hong Kong dollars)

 (Reporting by Donny Kwok)

 ((donny.kwok@thomsonreuters.com))