Hesai breaks ice with biggest Chinese IPO in the US since Didi
Hesai, a developer of sensor technologies used in self-driving cars, has raised $190m in an initial public offering (IPO), the largest by a Chinese issuer in the US market since the crash of Didi Global in 2021.
The Shanghai-based start-up sold 10-million American depositary receipts for $19 each, according to a statement Thursday. The company had marketed 9-million shares for $17 to $19 apiece. At the IPO price, Hesai has a market value of about $2.4bn.
Feb. 23, 2023