Maples Group Advises Horizon Robotics on Successful Hong Kong IPO

Horizon Robotics is a Chinese artificial intelligence technology company headquartered in Beijing. The company develops artificial intelligence chips used in self-driving cars and advanced driver assistance systems.

A team of lawyers based in the firm’s Hong Kong office acted as Cayman Islands counsel to Horizon Robotics and was led by Partner and head of the Corporate practice in Asia, Matt Roberts and assisted by Corporate Of Counsel Jessica Zhan. The Group’s Fund Services business acted as the Cayman Islands Share Registrar, with a team comprising Eastern Fong, Regional Head of Fund Services – Asia and Senior Vice President, Christy Poon.

Commenting on the transaction, Matt said “We are delighted to have advised our long standing client Horizon Robotics on its milestone Hong Kong IPO, which reflects our unwavering commitment to supporting innovative Chinese companies from their early growth stage to becoming globally significant public companies in the Chinese tech sector*. We look forward to seeing more innovative listings in Hong Kong next year, as the Hong Kong government continues to roll out key initiatives and measures to boost the number of stock listings from both international and large-scale mainland Chinese enterprises.”

Davis Polk & Wardwell acted as Hong Kong and US legal adviser to Horizon Robotics. King & Wood Mallesons acted as the PRC legal adviser to Horizon Robotics. Cleary Gottlieb Steen & Hamilton acted as Hong Kong and US legal adviser, and Jingtian & Gongcheng acted as the PRC legal adviser to Goldman Sachs (Asia) L.L.C., Morgan Stanley Asia Limited, and China Securities (International) Corporate Finance Company Limited.

*In June 2024, the Maples team advised QuantumPharm on its landmark IPO, representing the first specialist technology company listed in Hong Kong under Chapter 18C, a new regime introduced by the HKEX in March 2023.