(Infocast News) HORIZONROBOT (09660) is expected to start its initial public offering on 16 October 2024. Details of the IPO are as follows:

Shares for offer: 1.36 billion shares

Offer price: HK$3.73-3.99 per share

Net proceeds: HK$4.97 billion (assuming an offer price of HK$3.86 per share)

Use of net proceeds:

• 70% allocated over the next five years for research and development purposes;

• 10% for sales and marketing related expenses;

• 10% for future strategic investment into our joint ventures, particularly CARIZON, thus broadening and strengthening our technology capabilities; and

• 10% for general corporate purposes and working capital needs.

Cornerstone investors:

Alisoft China Holding Limited : US$50 million

Baidu (Hong Kong) Limited: US$50 million

PARTICIPATIONS 1: US$9.9 million

JSC International Investment Fund SPC: US$109.9 million

Board lot size: 600 shares

IPO entry fee: HK$2418.14

Offer period: 16 October, 2024 to noon on October 21, 2024

Listing date: October 24, 2024

(WL)