A Shanghai-based maker of sensors for cars has become the largest Chinese group to go public in the US since 2021, in a development that exchange executives hope will ease almost two years of tensions during which such listings ground to a halt, reports the Financial Times.
Hesai Technology, which supplies laser-based sensors to carmakers and autonomous driving companies, on Wednesday raised $190 million from investors—more than it had originally planned—in an initial public offering on the Nasdaq stock exchange that valued it at about $2.4 billion.
Bob McCooey, Asia-Pacific chair at Nasdaq, said he was hopeful the deal would be a “seminal” event after a series of positive developments in recent months “cleared the dark clouds [that] hung over the US capital markets for Chinese companies.”
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