Shares of Horizon Robotics ended 2.8% higher on their Hong Kong debut on Thursday, after the Chinese autonomous vehicle maker raised $696 million in this year's largest initial public offering (IPO) in Hong Kong.

Baillie Gifford & Co. and Norges Bank Investment Management were among the investors in Horizon Robotics’ $696 million Hong Kong initial public offering, according to people familiar with the matter.

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.