The firm’s strong debut is set to further boost sentiment toward Hong Kong’s IPO market after shares of bottled-water company China Resources Beverage Holdings Co. jumped 15% on listing Wednesday. At US$8.7 billion, IPO proceeds in the city this year have already exceeded the tally for all of 2023, according to data compiled by Bloomberg.
Shares of Horizon Robotics Inc. jumped nearly 38% early in their trading debut in Hong Kong Thursday, adding to optimism over a revival in initial public offerings in the Asian financial hub.
The stock opened at HK$5.12 (S$0.87), versus an issue price of HK$3.99. The US$696 million (S$919 million) IPO of the Chinese provider of software and hardware for autonomous driving systems saw strong demand, getting priced at the top of its marketed range and attracting investors such as Baillie Gifford & Co. and Norway’s sovereign wealth fund.
