Hesai Group Sets Offering Price for Global Shares
Hesai Group, a worldwide frontrunner in three-dimensional light detection and ranging (lidar) solutions, has announced the pricing of its global offering. This includes the release of 19,550,000 Class B ordinary shares. The offering is split into two components: an international offering and a Hong Kong public offering.
Details of the Global Offering
The offering price for this initiative has been established at HK$212.8 per share. Translating this into U.S. dollars, it equates to approximately US$27.11 per ADS (American depositary share) based on the exchange rate of HK$7.8499 to US$1.00.
Over-allotment Option and Trading Details
In addition to the initial offering, Hesai has granted an over-allotment option to international underwriters. This option allows them to require the company to issue up to an additional 2,932,500 shares at the offering price, which can be exercised within 30 days following the initial offering.
Investment Strategies for Future Growth
The projected gross proceeds from this offering are expected to reach HK$4,160.2 million, assuming that the over-allotment option is not utilized. The funds generated from this offering are intended for various initiatives. Those include bolstering research and development, enhancing manufacturing capacities, fostering business development to hasten expansion, and general corporate purposes.
Trading and Regulatory Expectations
Following approval from The Stock Exchange of Hong Kong Limited, these Class B shares are anticipated to begin trading on the Main Board under the stock code "2525" around September 16, 2025. The closing of the global offering will coincide with this date, subject to typical closing conditions.
About Hesai Technology
As a leading figure in the lidar industry, Hesai Technology has garnered recognition for its innovative solutions. These products cover a wide range of applications, including advanced driver-assistance systems (ADAS) for both passenger and commercial vehicles, autonomous driving technologies, and robotics. Their seamless integration of manufacturing with research and development enables rapid iterations that prioritize performance and quality.
Global Presence and Customer Base
With offices located in strategic locations such as Shanghai, Palo Alto, and Stuttgart, Hesai maintains a diverse customer base that extends over 40 countries worldwide. Their commitment to quality ensures that they are at the forefront of lidar technology advancement.
Contact Information for Inquiries
For those interested in reaching out, inquiries can be directed to Hesai Group. Yuanting "YT" Shi, the Head of Capital Markets, is available via email for any further information.
Frequently Asked Questions
What is the purpose of Hesai's global offering?
The global offering aims to raise funds to enhance research, development, manufacturing, and business expansion efforts.
What is the expected outcome of the offering?
Hesai anticipates gross proceeds of HK$4,160.2 million from the offering, enhancing its investment capabilities.
When are the shares expected to begin trading?
The shares are set to begin trading on the Main Board of the Hong Kong Stock Exchange around September 16, 2025.
How many shares are part of the global offering?
A total of 19,550,000 Class B ordinary shares are being offered in this global initiative.
What industries benefit from Hesai's lidar solutions?
Hesai's lidar solutions cater to various sectors, including automotive, robotics, and advanced driving assistance systems.
