Auto lidar maker Hesai received $2.38 bln margin loans for its IPO

Hesai Technology, the world's largest automotive lidar maker, has pulled in margin loans worth HK$2.38 billion on the first day of bookbuilding, making its retail tranche six times oversubscribed.

Hesai plans to issue 17 million shares priced no more than HK$228, raising up to HK$3.88 billion.

It asks for a minimum investment of HK$4605.99 for per board of 20 shares.

Hesia is expected to debut next Tuesday.

Earlier, Bloomberg reported that the Shanghai-based company, already listed on the United States' Nasdaq, could be among the first US-traded Chinese firms to seek a secondary listing in Hong Kong amid renewed delisting risks in the United States.