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Chinese LiDAR programs provider Hesai Group (HSAI) has filed for a $100M US preliminary public providing.
Hesai indicated within the submitting charge schedule for its submitting that it was in search of as much as $100M, a quantity that is probably going a placeholder and topic to alter. It did not specify what number of American Depositary Shares it intends to supply or the worth.
Underwriters on the deal embrace Goldman Sachs, Morgan Stanley, Credit Suisse and Huatai Securities. The firm hopes to checklist its shares on Nasdaq underneath the image HSAI.
Incorporated within the Cayman Islands, Hesai operates primarily via subsidiaries in China but additionally has a presence within the US and different international locations. The firm develops and manufactures LiDAR programs for superior driver-assistance programs, or ADAS, autonomous mobility and robotics.
The firm has been working within the purple. For the nine-month interval ended Sept. 30, Hesai reported a internet lack of $23M on income of $112M.
Other publicly traded LiDAR suppliers embrace Innoviz (INVZ), Luminar (LAZR), Ouster (OUST), Velodyne Lidar (VLDR), Aeva (AEVA) and AEye (LIDR).
