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Horizon Robotics IPO on Hong Kong Stock Exchange raises $696 million
Horizon Robotics completed an initial public offering on the Hong Kong Stock Exchange on October 24, 2024, raising HK$5.4 billion ($696 million USD). Shares surged 33% on debut. The IPO was Hong Kong's largest tech IPO of 2024. Proceeds fund expansion of Journey processor production and autonomous driving system development.
- IPO raised HK$5.4 billion ($696 million USD), Hong Kong's largest tech IPO of 2024
- Stock ticker 09660 on HKEX; shares surged 33% on trading debut
- Initial valuation HK$53.4 billion; by Oct 2026 market cap reached ~$8 billion
- Cornerstone investors included Alibaba and Baidu