SYDNEY, Oct 16 (Reuters) - Chinese autonomous driving

firm Horizon Robotics is aiming to raise up to $696 million in a

Hong Kong initial public offering, as the city's listings market

shows signs of renewed activity after a nearly two-year slump.

The company will sell 1.36 billion shares in a price range

of HK$3.73 to HK$3.99 ($0.51) each, according to the company's

filings.

If successful, the IPO will be the largest in Hong Kong in

2024, eclipsing China Resources Beverage which began

book-building on Tuesday for its up to $650 million listing.

Before Horizon Robotics and China Resources Beverage, Hong

Kong's IPO volumes had fallen to multi-year lows as Chinese

regulators hold back approvals from mainland companies looking

to raise capital offshore.

Cornerstone investors have subscribed for $219.8 million of

Horizon Robotics stock led by Alisoft China and Baidu ( BIDU ),

which have bid for $50 million each, the filings showed.

Horizon Robotics manufactures advanced driver assistance

systems and autonomous driving solutions for passenger vehicles

in China. Volkswagen has a small stake in the

company.

Horizon Robotics will set the final price for the IPO on

Oct. 21 and the shares will start trading on the Hong Kong Stock

Exchange on Oct. 24, the filings showed.

The company said it would use 70% of the proceeds raised in

the IPO on research and development spending over the next five

years, while a further 10% would be spent on sales and

marketing.

($1 = 7.7685 Hong Kong dollars)