Horizon Robotics, a Chinese autonomous driving company, has raised $696m (5bn yuan) through an initial public offering (IPO) in Hong Kong. This makes it Hong Kong’s largest IPO for the year, according to a report by Reuters.

Chinese autonomous driving firm Horizon Robotics has priced its shares at the top of its range to raise HK$5.4 billion ($696 million) according to a term sheet seen by Reuters, making it the biggest Hong Kong initial public offering this year.

For companies fully meeting listing requirements, the stock exchange and regulator will limit the two rounds of question-and-answer sessions to within 40 business days, according to a joint statement by Hong Kong Exchanges and Clearing (HKEX) and the Securities and Futures Commission (SFC).

In a deal that has reshaped Hong Kong’s IPO landscape, China’s home-appliance giant Midea successfully raised $4.6 billion in September, marking the city’s largest offering in years. From showcasing Midea’s transformative B2B growth to navigating the complexities of the listing process,

Hong Kong has recorded its busiest week for new IPO launches in almost two years with deals opened to raise up to $1.3 billion, giving bankers and investors confidence the two-year share sale freeze could be easing.

Horizon Robotics, a Chinese provider of software and hardware used in autonomous driving systems, priced its Hong Kong initial public offering at the top of the range to raise HK$5.4 billion ($696 million),