iMotion announces global stock offering for Hong Kong listing

Beijing (Gasgoo)- On December 12, Chinese autonomous driving solution provider iMotion Automotive Technology (Suzhou) Co., Ltd. ("iMotion") announced its plans for a global offering of 22.116 million shares, including 2.2116 million shares for sale in Hong Kong and 19.9044 million shares internationally.

Photo credit: iMotion

The offering period spans from December 12 to December 15, with a maximum price of HK$29.65 per share and a trading unit of 100 shares, translating to an approximate entry fee of HK$2,994.90.

Anticipated proceeds from the global offering are projected at HK$656 million, with a net of HK$586 million. These funds are earmarked for enhancing the company's autonomous driving solutions and product development, investments related to the R&D headquarters, production facilities, and new production lines, expanding sales and service networks, as well as operational and general purposes.

Founded in 2016, iMotion focuses on the development of domain controllers for autonomous vehicles The company currently boasts commercially available solutions with L2-L2+ autonomy and is actively developing L2-L4 solutions for automakers.

The company is slated for a public listing on the main board of the Hong Kong Stock Exchange under the stock code "1274" on December 20, 2023.