China’s Hesai Group on Friday announced plans to raise as much as $171 million in an initial public offering in the United States, according to a term sheet.
The Shanghai-based lidar maker will offer up to 9 million American depositary shares at between $17 and $19 apiece.
Laser-based lidar sensors help self-driving cars detect objects ahead and around the vehicle and are the key components of autonomous driving systems.
To date, Hesai has raised over $500 million, according to the company’s website.
Hesai’s IPO is the first major offering by a Chinese firm since the country scrapped most of its Covid curbs and reopened its borders.
Chinese carmaker Geely Automobile Holdings’ electric car brand, Zeekr, confidentially filed for a U.S. initial public offering in December.
Link: https://www.cnbc.com/2023/02/03/chinese-lidar-maker-hesai-to-raise-up-to-171-million-in-us-ipo.html