Horizon Robotics raised HK$5.41 billion in its Hong Kong IPO, valuing the company at HK$53.4 billion The company’s revenue grew 152% in the first half of the year, and it expects its recently formed j

Shares of Horizon Robotics ended 2.8% higher on their Hong Kong debut on Thursday, after the Chinese autonomous vehicle maker raised $696 million in this year's largest initial public offering (IPO) in Hong Kong.

The Volkswagen-backed company ended its first trading day at HK$4.1, up 2.8% from its HK$3.99-a-share IPO price. Its stock surged as much as 38% in intraday trading.

Baillie Gifford & Co. and Norges Bank Investment Management were among the investors in Horizon Robotics’ $696 million Hong Kong initial public offering, according to people familiar with the matter.

By Scott Murdoch and Donny Kwok SYDNEY (Reuters) -Shares of Horizon Robotics soared 28.3% in its trading debut on Thursday after the Chinese autonomous vehicle maker raised $696 million in this year's largest initial public offering (IPO) in Hong Kong.

Horizon Robotics, a Chinese autonomous driving technology provider, aims to raise US$696 million through its Hong Kong IPO, potentially providing a boost to the city's listing market after a prolonged downturn.

Beijing-headquartered tech firm, listed under the 9660 stock code, traded at HK$5.12 at the opening bell, up from its IPO price of HK$3.99.

SHARES of Horizon Robotics jumped nearly 38 per cent early in their trading debut in Hong Kong on Thursday (Oct 24), adding to optimism over a revival in initial public offerings (IPOs) in the Asian financial hub.

Horizon Robotics, a Chinese autonomous driving company, has raised $696m (5bn yuan) through an initial public offering (IPO) in Hong Kong. This makes it Hong Kong’s largest IPO for the year, according to a report by Reuters.