Feb 03, 2023 05:28 PM
BUSINESS
Chinese Lidar Firm Hesai Targets $171 Million IPO
Pedestrians walk near the New York Stock Exchange in New York on Jan. 27. Photo: Bloomberg
(Bloomberg) — Hesai Group, a Chinese developer of sensor technologies used in self-driving cars, is planning to raise as much as $171 million in a U.S. initial public offering.
The Shanghai-based startup is offering 9 million American depositary shares (ADSs) at $17 to $19 apiece, according to an exchange filing on Thursday, confirming an earlier Bloomberg News report.
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