IPOs ride stock-market surge with debuts from Nextracker, Hesai Group and others

Two initial public offerings underwritten by major investment banks added shares ahead of their trading debuts on Thursday, as the new-issues market taps into strong gains by the broad equities market so far in 2023.

Meanwhile, an upcoming deal from Sondors, which makes electric bikes and motorcycles, increased the estimated dollar proceeds in its IPO. Nextracker increased the size of its IPO to 26.6 million shares from 23.26 million and priced it at $24 a share, above the estimated range of $20 to $23. Hesai Group describes itself as a leader in three-dimensional light-detection and ranging technology, which is used in passenger and commercial vehicles with driver-assistance systems, as well as in self-driving vehicles.

Canada Canada Latest News, Canada Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Hesai Group IPO prices atop its range for stock market debutHesai Group priced 10 million American depositary shares at $19 each in a bid to raise $190 million in its initial public offering on the Nasdaq on Thursday,...
Source: MarketWatch - 🏆 3. / 97 Read more »

Solar tech company Nextracker expected to price at upper end of range in good sign for IPO marketThe Nextracker initial public offering, which had sought to raise up to $535 million, will likely be the biggest U.S. listing since October.
Source: CNBC - 🏆 12. / 72 Read more »