Hesai Group Announces Pricing of Global Offering

Core Viewpoint - Hesai Group, a leader in lidar solutions, has announced the pricing of its global offering of 19,550,000 Class B ordinary shares, which includes both an international offering and a Hong Kong public offering [1][2]. Offering Details - The final offering price is set at HK$212.8 per Offer Share, translating to US$27.11 per American depositary share (ADS) based on an exchange rate of HK$7.8499 to US$1.00 [2]. - An over-allotment option has been granted to international underwriters, allowing for the issuance of up to 2,932,500 additional Offer Shares at the same offering price [3]. - The Class B ordinary shares are expected to begin trading on the Hong Kong Stock Exchange on September 16, 2025, under the stock code "2525" [4]. Financial Proceeds - The gross proceeds from the global offering are expected to be HK$4,160.2 million, assuming the over-allotment option is not exercised [5]. - The net proceeds will be utilized for research and development, manufacturing capabilities, business development, and general corporate purposes [5]. Company Overview - Hesai Technology specializes in lidar solutions for various applications, including advanced driver-assistance systems (ADAS) and autonomous vehicles [11]. - The company integrates its manufacturing process with R&D to ensure high performance and affordability, with a customer base spanning over 40 countries [11].