Hesai plans US$300 million Hong Kong IPO next month: report

Hesai Technology, the world's largest automotive lidar maker, is preparing for a Hong Kong listing as soon as next month to raise about US$300 million (HK$2.34 billion), Bloomberg reported.

The Shanghai-based company, already listed on the United States' Nasdaq, could be among the first U.S.-traded Chinese firms to seek a secondary listing in Hong Kong amid renewed delisting risks in the U.S. Discussions are ongoing, and details such as size and timing could change, according to the report.

Earlier this month, China's securities regulator approved Hesai's plan to issue up to 51.2 million ordinary shares in Hong Kong. The company had previously applied for the listing confidentially. Other Chinese firms like Atour and Pony.ai are also considering listings in the city.