Freshfields advises on the US$540 million Hong Kong dual primary listing and US SEC-registered offering of Hesai Group

Freshfields has advised the joint sponsors and underwriters on the Hong Kong and US law aspects on the HKSE dual primary listing and the US SEC-registered offering of Hesai Group (‘Hesai’). The deal raised gross proceeds of approximately US$540m.

Hesai is a leading LiDAR company globally in terms of commercialisation and financial performance, according to CIC and its ADSs are listed and traded on Nasdaq. Hesai’s lidar products enable a broad spectrum of applications across (i) passenger or commercial vehicles with advanced driver assistance systems, and (ii) autonomous vehicle fleets providing passenger and freight mobility services, robotics and other non-automotive industries, such as automated guided vehicles/autonomous mobile robots, delivery robots, agricultural vehicles, wide industrial applications such as port and yard automation, and stationary applications.

The Freshfields team was led by partners Arun Balasubramanian, Howie Farn and David Yi. They were supported by counsel Quan Zhou, associates Frank Fan and Zhanqi Xu, legal consultants Yantao Zheng, Yuxin Lei, Eric Tang, Kangdi Cheng and Yueyi Wang.