Horizon Robotics Gains 28% in HK Debut After $696 Million IPO [Yahoo! Finance Canada]
Baidu, Inc. - American Depositary Shares, each representing 8 ordinary share (BIDU)
Last baidu, inc. - american depositary shares, each representing 8 ordinary share earnings: 2/27 04:30 pm
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Source: Yahoo! Finance Canada
Most Read from Bloomberg The stock opened at HK$5.12 ($0.65902), versus an issue price of HK$3.99. The $696 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. The stock jumped as much as 31% in over-the-counter gray market trading Wednesday. 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 $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. Founded in 2015, Horizon Robotics is controlled by Kai Yu, an artificial-intelligence scientist who used to work at Baidu Inc. and was instrumental in its push into autonomous driving. The company said it plans t
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