Horizon Robotics Said to Draw Alibaba, Baidu as Investors in IPO [Yahoo! Finance]
BYD CO LTD UNSP/ADR (BYDDY)
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Source: Yahoo! Finance
Most Read from Bloomberg French shipping billionaire Rodolphe Saade's CMA CGM and a Ningbo government fund are also cornerstone investors, the people said, asking not to be identified because the information isn't public. The four have agreed to subscribe for a total of $220 million in shares, the people said. Horizon Robotics, which has several high-profile backers including China's BYD Co. and Contemporary Amperex Technology Co. Ltd., is looking to raise as much as $800 million in the IPO, the people said, making it one of Hong Kong's biggest listings this year. It is seeking a valuation of as much as $6 billion, before including the funds raised in the IPO, the people added. The company started gauging investor interest on Oct. 11. It will start to take orders Wednesday, the people said. Deliberations are ongoing and details such as the size of the IPO could change, they said. Representatives for Horizon Robotics declined to comment. Alibaba, Baidu, CMA and the Ningbo go
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