BRIEF: Minieye IPO to raise up to $100 million in Hong Kong IPO

Baidu does infrastructure

Autonomous driving technology company Minieye Technology Co. Ltd. said on Tuesday it plans to sell about 39.2 million shares for between HK$17 and HK$20.20 in its Hong Kong IPO. A pricing at the top of that range would generate proceeds of about HK$792 million ($102 million).

About 10% of the shares will be available for locally based Hong Kong investors, with the remaining 90% going to international investors. Autonomous driving chipmaker Horizon Robotics (9660.HK) has agreed to purchase 685,800 shares, or about 1.7% of the shares being offered, as one of the cornerstone investors.

Final pricing for the deal is set for Dec. 23, with the shares set to make their trading debut on Dec. 27

By Doug Young

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