Shares of Chinese autonomous vehicle maker Horizon Robotics opened 28.3% higher on the Hong Kong stock exchange on Thursday after the company raised $696 million in an initial public offering.

Horizon Robotics Inc. will list its shares Thursday in Hong Kong after raising $696 million, adding to a flurry of deals that signal the end of a slump in initial public offerings in the Asian financial hub.

Asian equities were mixed overnight despite a stronger US dollar. Hong Kong and South Korea outperformed, while Thailand was closed for Chulalongkorn Day, a national holiday commemorating His Majesty King Chulalongkorn the Great’s passing.

Drinks maker China Resources Beverage's shares ended 15% higher in their Hong Kong debut on Wednesday, giving dealmakers hope that more big-ticket initial public offerings could be on the way. The company sold 347.

China Resources Beverage shares surged on their Hong Kong debut, buoyed by positive market sentiment as trading activity in the city picks up.

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.

Shares of China Resources Beverage Holdings Co. rose more than 14% early in their trading debut in Hong Kong, showing strong response to one of Hong Kong’s biggest initial public offerings this year.

Meanwhile, rival China Longyuan Power gains after deal to buy wind-farm assets from controlling stakeholder Shares of China Resources Power (CRP), one of the nation's most profitable power generators,