Aqua Capital Strategy Limited Demonstrates Deep Expertise in AI Hard Tech, Propelling Long-Term Portfolio Company "Horizon Robotics" to Successful Listing on the Main Board of HKEX

William Lo
Oct 24, 2024
2 min read

(Hong Kong, 24 October 2024) – Aqua Capital Strategy Limited ("Aqua Capital" or the "Group") is pleased to announce today that Horizon Robotics (Stock Code: 9660.HK), a portfolio company of Forward Investment Corporation and Forward Investment Corporation Limited, for which the Group acts as the Investment Advisor, has officially been listed and commenced trading on the Main Board of The Stock Exchange of Hong Kong Limited ("HKEX").

As a long-term strategic supporter of Horizon Robotics, the Group has demonstrated exceptional foresight. As early as the Series B financing stage, the Group assisted Forward Investment in executing its initial strategic deployment, and continued to provide professional advisory services during the subsequent Series D financing. According to public information, the relevant investment entities have injected a cumulative total of approximately US$30 million across various financing rounds. Upon completion of the listing (assuming the over-allotment option is not exercised), Forward Investment holds an equity interest of approximately 1.04% in Horizon Robotics.

Based on the final offer price, the market capitalization of Horizon Robotics upon listing reaches approximately HK52.2 billion, making it one of the most influential l technology IPO sin the Hong Kong capital market this year. Calculated based on this market capitalisation, the market value of the share shield by Forward Investment amounts to approximately HK 540 million. As Horizon Robotics is a leading provider of advanced driver assistance systems (ADAS) and autonomous driving (AD) solutions for passenger vehicles in China, this successful listing serves as a strong testament to Aqua Capital's profound professional competence and investment acumen in accurately identifying and securing enterprises with core technological barriers from an early stage.

A spokesperson for Aqua Capital stated: "We extend our sincere congratulations to Horizon Robotics on its successful listing on the HKEX. Since our entry during the Series B financing, we are deeply honored to have witnessed Horizon Robotics' transformation from a technological pioneer into an industry leader. As a professional investment advisor, the Group is steadfastly committed to discovering technological value with disruptive and transformative potential for our partners. This listing is not only a significant milestone in the development of Horizon Robotics, but also further underscores the Group's unwavering commitment to upholding the philosophy of long-term value investing and assisting top-tier enterprises in entering the international capital market."

Attachment Notice: 20241024 Horizon Robotics