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

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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.

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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)