off-the-wire

Chinese lidar maker Hesai to raise up to $171 mln in U.S. IPO

Kitco Media
By Reuters
Published:
Updated:
Reuters
Feb 3 (Reuters) - 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 (ADS) at between $17 and $19 per apiece.


Laser-based lidar sensors help self-driving cars detect objects ahead and around the vehicle and are a key component to many self-driving systems. (Reporting by Harish Sridharan in Bengaluru; Editing by Anil D'Silva)

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.