After the hearing by the Hong Kong Stock Exchange, Botai Connected Car Technology (Shanghai) Co., Ltd. (hereinafter referred to as "Botai Connected Car", stock code: 2889. HK) began its IPO on September 22 and officially landed on the Hong Kong Stock Exchange on September 30.
This IPO plans to issue 10.4369 million H-shares globally (depending on the exercise of the over allotment option), including 1.0437 million shares issued in Hong Kong and 9.3932 million shares issued internationally. The IPO period is from September 22 to September 25, 2025.
The price of each share offered by Botai Car Union is HKD 102.23. Based on this offer price, the estimated net fundraising amount for the company is approximately HKD 919.1 million. The company plans to use approximately 30% of the proceeds to expand its product portfolio and solutions, as well as enhance its technology; About 30% is used to improve production, testing, and validation capabilities; About 20% is used to expand sales and service networks.
Botai Chelian is a well-known provider of intelligent cockpit solutions in China. According to the shipment volume in 2024, the company is the third largest supplier of intelligent cockpit domain controller solutions for passenger cars in China, with a market share of 7.3%. Different from competitors who mainly focus on hardware, Botai Car Connect provides intelligent cockpit solutions that combine software, hardware, and cloud services, and can provide customized integrated services.
This IPO of Botai Car Connect has introduced three heavyweight cornerstone investors: one is Horizon Together Holding Ltd., which is wholly owned by Horizon Robos-W (09660. HK); Another one is, Huangshan SP， For the independent investment portfolio of JSC International Investment Fund SPC (ultimately controlled by Beijing Financial Holding Group Co., Ltd.); And Smart Ventures Limited.
Based on the issuance price of HKD 102.23 per share, the total market value of Botai Car Link after listing will reach HKD 15.334 billion.
