HONG KONG -- This week, Hong Kong saw its two largest initial public offerings so far this year, raising hopes for a revival of the Chinese IPO market, which has been struggling for the past three years.
Shares of Chinese self-driving tech company Horizon Robotics opened at 5.20 Hong Kong dollars on Thursday, 30% higher than the offer price of HK$3.99, which was at the upper end of the range. The company raised HK$5.41 billion or $700 million, making it the largest IPO this year in Hong Kong. Shares closed 2.76% higher at HK$4.10.
