Daily Brief ECM: Horizon Robotics Pre-IPO - The Positives - Rapid Revenue Growth and more

In today’s briefing:

Horizon Robotics Pre-IPO – The Positives – Rapid Revenue Growth
Horizon Robotics Pre-IPO – The Negatives – Large Part of the Growth Stems from Its JV
ZEEKR IPO Valuation Update: Likely To Price IPO Below Last Round Valuation of ~$13B

Horizon Robotics Pre-IPO – The Positives – Rapid Revenue Growth

Horizon Robotics is looking to raise US$500m in its upcoming Hong Kong IPO. The bookrunners on the deal are GS, MS and China Securities.
Horizon Robotics (HR) is a provider of advanced driver assistance systems (ADAS) and autonomous driving (AD) solutions for passenger vehicles, empowered by its proprietary software and hardware technologies.
In this note, we talk about the positive aspects of the deal.

Horizon Robotics is looking to raise US$500m in its upcoming Hong Kong IPO. The bookrunners on the deal are GS, MS and China Securities.
Horizon Robotics (HR) is a provider of advanced driver assistance systems (ADAS) and autonomous driving (AD) solutions for passenger vehicles, empowered by its proprietary software and hardware technologies.
In this note, we talk about the not-so-positive aspects of the deal.

ZEEKR, a Chinese EV maker, plans to raise up to $500M in US IPO. The company put its offering on hold in 2023 due to a mismatch in valuation expectations.
A fast-growing company will offer ADSs, and the size of the company’s potential IPO is down from their initial target of up to $1B, a negative sign for ZEEKR shares.
EV stocks have significantly underperformed the broader market this year amid price wars, slow growth ahead and intense competition, especially in China.

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