Hesai Group Launches Global Offering of 17,000,000 Class B Ordinary Shares

Strategic Insights -

Hesai Group, the global leader in three-dimensional light detection and ranging (lidar) solutions, has announced the launch of its global offering of 17,000,000 Class B ordinary shares. The offering consists of a Hong Kong public offering and an international offering, with the company's American depositary shares (ADSs) continuing to be listed and traded on the Nasdaq Global Select Market. The shares will be traded in board lots of 20 Class B ordinary shares.

Key Takeaways:

  • The global offering comprises a Hong Kong public offering of 1,700,000 Class B ordinary shares and an international offering of 15,300,000 Class B ordinary shares, representing 10% and 90% of the total number of Class B ordinary shares initially available under the Global Offering, respectively.
  • The company has entered into cornerstone investment agreements with HHLR Advisors, Taikang Life, WT Asset Management, Grab, Hongda Group, and Commando Global Fund, which will subscribe for approximately 29.8% of the Class B ordinary shares initially being offered under the Global Offering, assuming they are sold at the Maximum Hong Kong Offer Price of HK$228.00 per Class B ordinary share.
  • The company plans to use the net proceeds from the Global Offering for investment in research and development, investment in its manufacturing capabilities, business development to accelerate its business expansion, and working capital and general corporate purposes.
  • The Global Offering is subject to market and other conditions, and there can be no assurance as to whether or when the Global Offering may be completed, or as to the actual size or terms of the Global Offering.

Statistics:

  • 17,000,000 Class B ordinary shares will be issued in the Global Offering, comprising 1,700,000 shares in the Hong Kong Public Offering and 15,300,000 shares in the International Offering.
  • The Maximum Hong Kong Offer Price is HK$228.00 per Class B ordinary share, equivalent to US$29.04 per ADS.
  • The company has an offer size adjustment option exercisable up to 2,550,000 Class B ordinary shares, representing 15% of the total number of Class B ordinary shares initially available under the Global Offering.
  • The International Offering is expected to be made by means of a preliminary prospectus supplement dated September 5, 2025, and the accompanying prospectus included in an automatic shelf registration statement on Form F-3 filed with the U.S. Securities and Exchange Commission on September 5, 2025, which automatically became effective upon filing.

Sources:

  • GLOBE NEWSWIRE, "Hesai Group Announces Launch of Global Offering of 17,000,000 Class B Ordinary Shares" (September 5, 2025)
  • SEC filing, "Form F-3, Registration Statement of Hesai Group" (September 5, 2025)
  • Hesai Group's press release, "Hesai Group Announces Launch of Global Offering of 17,000,000 Class B Ordinary Shares" (September 5, 2025)