Samreen Ahmad · · 1 min readChina’s iMotion eyes $300m Hong Kong IPO as self-driving sector heats up
China-based iMotion, an AI firm that develops and provides automated driving solutions for carmakers, is planning to go public in Hong Kong and raise up to US$300 million, reported Bloomberg, citing sources familiar with the matter.
The company is working with CCB International, Citigroup, and Huatai Securities for its IPO preparations. The listing could happen as early as this year.
The Chinese firm is backed by Future Capital, Li Auto, and China State-Owned Enterprise Mixed Ownership Reform Fund.
IMotion is one of several Chinese self-driving companies that are seeking to tap the capital markets amid growing demand for driverless mobility technologies. China is expected to hold around half of the US$$237 billion driverless vehicles industry by 2025.
Editing by Miguel Cordon and Lorenzo Kyle Subido
(And yes, we’re serious about ethics and transparency. More information here.)
Stay updated on the go with our mobile app.
Get latest insights with smoother, more personalized experience through TIA mobile app.
