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 (Buy google ads Account – vccseller.com) 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)