Chinese Hesai hoping for $171 million in U.S. IPO

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.

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.

It is also among a few major U.S. listings of a Chinese firm since Beijing tightened its grip on overseas share sales in July 2021 and struck a landmark auditing deal with Washington in August last year that sharply lowered the likelihood of de-listing for more than 200 New York-listed Chinese companies.

Chinese carmaker Geely Automobile Holdings’ electric car brand, Zeekr, confidentially filed for a U.S. initial public offering in December.

Source: https://www.cnbc.com/2023/02/03/chinese-lidar-maker-hesai-to-raise-up-to-171-million-in-us-ipo.html

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