Hesai Group is said to plan IPO as soon as next month: sources

Hesai Group is said to plan IPO as soon as next month: sources

Hesai Group, the world’s largest maker of lidar sensors for vehicles, is reportedly preparing to list its shares on the Hong Kong Stock Exchange as early as next month, according to sources familiar with the matter. The Shanghai-based company, whose shares are currently traded on the Nasdaq Stock Market, is aiming to raise approximately $300 million in the offering [1].

The International Cooperation Department of the China Securities Regulatory Commission (CSRC) has issued a filing notice regarding Hesai Group’s overseas issuance and listing. The company plans to issue no more than 51.2362 million overseas listed ordinary shares and list on the Hong Kong Stock Exchange [2].

Deliberations are ongoing, and the size and timing of the deal may change, the sources said. Hesai Group did not immediately respond to a request for comment. This potential IPO could be a significant development for Hesai, which has been expanding its presence in the global market for autonomous vehicle technology.

References:
[1] https://news.bloomberglaw.com/capital-markets/lidar-maker-hesai-group-is-said-to-plan-hong-kong-listing-soon
[2] http://www.aastocks.com/en/stocks/news/aafn-con/NOW.1464566/popular-news/AAFN