Horizon plans to submit an IPO application to the Hong Kong Stock Exchange at the end of March

Horizon plans to submit its prospectus to the Hong Kong Stock Exchange at the end of March and has selected China Securities Investment International, Goldman Sachs and Morgan Stanley as joint sponsors. Horizon said it would not respond to market rumors. Earlier, there were reports that Horizon had selected an investment bank and planned to conduct an initial public offering in Hong Kong this year to raise about US$500 million (about HK$3.9 billion).