Deals
China Chip Firm Horizon Robotics Eyes Moving U.S. IPO to Hong Kong
- Intel-backed startup looked to raise up to $1 billion in float
- Chinese firms are changing fundraising plans amid crackdown
Source: Horizon Robotics
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Chinese artificial intelligence-chip startup Horizon Robotics Inc. is considering shifting its potential U.S. initial public offering to Hong Kong in the wake of Beijing’s increasing scrutiny of overseas listings, according to people familiar with the matter.
The Intel-backed company is working with advisers to look into a possible Hong Kong float as soon as next year, the people said, asking not to be identified as the matter is private. Horizon had been weighing a U.S. listing that could raise as much as $1 billion, people familiar with the matter said in June.