SYDNEY, Nov 15 (Reuters) - Chinese self-driving firm iMotion Automotive Technology is aiming to raise $100 million in its Hong Kong initial public offering (IPO) due to launch in the last week of November, according to two sources with direct knowledge of the matter.
iMotion, which was established in 2016, did not immediately respond to a request for comment from Reuters.
The Suzhou-based firm is planning to open the books for its IPO the week after next ahead of starting trade on the Hong Kong Stock Exchange (HKEX) in the first week of December, according to the sources.
iMotion had planned to raise $300 million, Bloomberg News reported in March, but has cut the size of its new fund raising target.
Reporting by Scott Murdoch in Sydney and Yantoultra Ngui in Singapore; Editing by Lincoln FeastOur Standards: The Thomson Reuters Trust Principles.
Persons:
iMotion, Hong Kong's, Scott Murdoch, Yantoultra, Lincoln
Organizations:
SYDNEY, iMotion Automotive Technology, Reuters, Hong Kong Stock Exchange, Bloomberg News, Thomson
Locations:
Hong Kong, iMotion, Suzhou, China, Hong, Sydney, Singapore