Latham & Watkins represented Hesai Group in US$190 Million US IPO
Hesai Group, a leading developer of sensor technologies for self-driving vehicles, has received counsel from Latham & Watkins
Latham & Watkins represented Hesai Group in US$190 Million US IPO
Hesai Group, a leading developer of sensor technologies for self-driving vehicles, has received counsel from Latham & Watkins on its initial public offering.
The underwriters, including Goldman Sachs, Morgan Stanley, Credit Suisse, and Hutai Securities, were advised by Latham & Watkins on the offering of 10 million American Depositary Shares (ADS), listed on the NASDAQ Global Market under the ticker symbol "HSAI". The total offering size is approximately US$190 million, with the potential for additional ADRs if the underwriters exercise their over-allotment option. This listing marks the largest US IPO for a Chinese company since July 2021.
Hesai is a global leader in three-dimensional light detection and ranging (LiDAR) solutions. The company's products enable a broad spectrum of applications across passenger and commercial vehicles with advanced driver assistance systems and autonomous vehicle fleets, as well as robotics.
The Latham team was led by Hong Kong corporate partners Allen Wang and Dominik Sklenar, with Beijing counsel Wei Wei, and Shanghai associate Jasmine Hu.