HONG KONG -- Shares of Alibaba-backed RoboSense got off to a weak start in their first day of trading in Hong Kong, amid questions over whether costly lidar sensor technology will find favor with makers of self-driving cars.
The company raised 985 million Hong Kong dollars ($126 million) in the city's first initial public offering of the year, valuing it at HK$19 billion. Cainiao, a subsidiary of Alibaba Group, holds 11.03% of the shares in the Shenzhen-based company.
