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In today’s briefing:
- Horizon Robotics Pre-IPO – The Positives – Rapid Revenue Growth
- Horizon Robotics Pre-IPO – The Negatives – Large Part of the Growth Stems from Its JV
- ZEEKR IPO Valuation Update: Likely To Price IPO Below Last Round Valuation of ~$13B
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Horizon Robotics Pre-IPO – The Positives – Rapid Revenue Growth
- Horizon Robotics is looking to raise US$500m in its upcoming Hong Kong IPO. The bookrunners on the deal are GS, MS and China Securities.
- Horizon Robotics (HR) is a provider of advanced driver assistance systems (ADAS) and autonomous driving (AD) solutions for passenger vehicles, empowered by its proprietary software and hardware technologies.
- In this note, we talk about the positive aspects of the deal.
Horizon Robotics Pre-IPO – The Negatives – Large Part of the Growth Stems from Its JV
- Horizon Robotics is looking to raise US$500m in its upcoming Hong Kong IPO. The bookrunners on the deal are GS, MS and China Securities.
- Horizon Robotics (HR) is a provider of advanced driver assistance systems (ADAS) and autonomous driving (AD) solutions for passenger vehicles, empowered by its proprietary software and hardware technologies.
- In this note, we talk about the not-so-positive aspects of the deal.
ZEEKR IPO Valuation Update: Likely To Price IPO Below Last Round Valuation of ~$13B
- ZEEKR, a Chinese EV maker, plans to raise up to $500M in US IPO. The company put its offering on hold in 2023 due to a mismatch in valuation expectations.
- A fast-growing company will offer ADSs, and the size of the company’s potential IPO is down from their initial target of up to $1B, a negative sign for ZEEKR shares.
- EV stocks have significantly underperformed the broader market this year amid price wars, slow growth ahead and intense competition, especially in China.