Hesai Group

Hesai Group (HSAI) priced its initial public offering on Feb 9, 2023 at $19.00 per ADS, raising $190M, and listed on Nasdaq Global Select. At the IPO price its market capitalization was about $2.39B. Goldman Sachs was lead-left underwriter, joined by Morgan Stanley, Credit Suisse and Huatai. Skadden, Arps, Maples and Calder and Commerce & Finance advised the company and Latham & Watkins and Fangda Partners advised the underwriters.

Hesai Group develops three-dimensional light detection and ranging (LiDAR) solutions. Its products serve passenger and commercial vehicles with driver assistance systems, autonomous vehicle fleets, and robotics applications such as delivery, street sweeping and logistics robots.

Status

IPO

Ticker

HSAI

Exchange

Nasdaq Global Select

Priced

Feb 9, 2023

IPO price

$19.00 per ADS

Raised

$190M

Market cap at IPO price

$2.39B

First filed

Jan 17, 2023

Underwriters

Goldman Sachs, Morgan Stanley, Credit Suisse and Huatai

Company counsel

Skadden, Arps, Maples and Calder and Commerce & Finance

Underwriters' counsel

Latham & Watkins and Fangda Partners

Sector

Industrials & materials

Market cap at IPO price = shares outstanding after the offering (all classes, before the over-allotment option) × the IPO price, from the final prospectus.