RoboSense Technology recently made its debut on the Hong Kong stock market by offering its IP0 (Initial Public Offering) solution on Friday, marking the first IPO of 2024 in the Hong Kong market. The company successfully raised a total of $985 million Hong Kong dollars through the sale of shares. However, the stock price closed 2% lower on the first day of trading compared to the IPO price.
RoboSense’s solution combines hardware development, including LiDAR technology, with software processing. This innovative solution can be utilized in both autonomous vehicles and various robot models. The funds raised from this IPO will primarily be allocated towards research and development initiatives, as well as expanding production capacity. Additionally, part of the funds will be utilized to strengthen the sales and marketing teams.
The IPO of RoboSense has attracted significant interest from investors. Notably, Cainiao, a transportation company under Alibaba, held a stake of approximately 10% prior to the IPO. Meanwhile, the additional shares offered during the IPO were targeted towards Nanshan SEI Investment, a local investment firm based in the Nanshan district of Shenzhen, China. This targeted offering resulted in Nanshan SEI Investment acquiring 79% of the total IPO shares.
TLDR: RoboSense Technology, a LiDAR technology developer, went public in Hong Kong with its IPO, raising $985 million Hong Kong dollars. The company’s solution combines hardware and software, catering to the autonomous vehicle and robot markets. The funds raised will fuel research and development, production expansion, and strengthen the sales and marketing teams. Important investors include Cainiao, a subsidiary of Alibaba, and Nanshan SEI Investment, which acquired 79% of the IPO shares.
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