China's lidar maker Hesai shines in Hong Kong debut

Shares of three-dimensional light detection and ranging (lidar) solutions provider Hesai Group 2525.HK trade as high as HK$244 each in their Hong Kong debut on Tuesday

This is 14.7% higher than their offer price of HK$212.80

At lunch break, stock trims some gains to trade at HK$237.2, still up 11.5% from offer price; 3.93 mln shares worth HK$915.5 mln change hands

U.S.-listed stock HSAI.O rose 4.3% on Monday

The China-based lidar manufacturer offered 19.55 mln Class B shares in global offering, raising HK$4.16 bln ($534.83 mln) for investment in R&D and manufacturing capabilities, business expansion and working capital

Says, subscription level for the public offering portion is 168.65 times, international offering portion is 14.09 times

Hang Seng Automobile Index .HSAMI rises 1.2%, Hang Seng Tech Index .HSTECH adds 0.4%

($1 = 7.7781 Hong Kong dollars)