By Scott Murdoch
SYDNEY (Reuters) – Chinese firm Horizon Robotics is aiming to raise up to $696 million in a Hong Kong initial public offering (IPO) as the city’s listings market shows signs of renewed activity after a year-long slump.
The company will sell 1.36 billion shares in a price range of HK$3.73 to HK$3.99 ($0.51) each, according to the company’s filings.
If successful, the IPO will be the largest in Hong Kong in 2024, eclipsing China Resources Beverage which began book building on Tuesday for its up to $650 million listing.
Cornerstone investors have subscribed for $219.8 million worth of Horizon Robotic stock led by Alisoft China and Baidu which have bid for $50 million each, the filings showed.
($1 = 7.7685 Hong Kong dollars)
(Reporting by Scott Murdoch; Editing by Christian Schmollinger)
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