(Reuters) -Chinese autonomous driving solutions provider Horizon Robotics has raised about $821 million through a Hong Kong top-up placement, according to a company filing to the stock exchange on Friday. The placement includes a final offering size of 639 million Class B ordinary shares of the company, at a final price of HK$9.99 ($1.28) per […]
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China’s Horizon Robotics raises $821 million in Hong Kong top-up share placement
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(Reuters) -Chinese autonomous driving solutions provider Horizon Robotics has raised about $821 million through a Hong Kong top-up placement, according to a company filing to the stock exchange on Friday.
The placement includes a final offering size of 639 million Class B ordinary shares of the company, at a final price of HK$9.99 ($1.28) per share. The placement is at a 5.8% discount to Horizon Robotics’ last closing price on Thursday, according to a term sheet reviewed by Reuters.
Horizon said in the stock exchange filing it intended to use the proceeds to pay for research and development projects and fund investment in emerging sectors such as its Robotaxi initiative.
($1 = 7.7821 Hong Kong dollars)
(Reporting by Scott Murdoch in Sydney and Roshan Thomas in Bengaluru; Editing by Alan Barona)