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Hesai Climbs in Biggest US Debut by Chinese Firm Since Didi

  • Lidar maker Hesai topped IPO target to raise $190 million
  • US debut by Baidu, Xiaomi-backed firm signals easing of risk
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Hesai Group, a developer of sensor technologies used in self-driving cars, rose 11% in its US trading debut after expanding its initial public offering to raise $190 million.

The listing is the largest by a Chinese issuer in the US market since the crash of Didi Global Inc. in 2021. Shanghai-based Hesai sold 10 million American depositary shares for $19 each, after marketing 9 million for $17 to $19.