Velodyne Lidar retrieves bankers for a listing: Business Insider
A Velodyne LiDAR sensor is seen on a vehicle vehicle during a motorcycle event at Thunderhill Raceway in Willows, California, USA April 1[ads1], 2017. REUTERS / Stephen Lam
(Reuters) – Autonomous vehicle technology company Velodyne Lidar has employed bankers for a first public offer, Business Insider reported Saturday, referring to sources familiar with the process.
San Jose, California-based company works with Bank of America Merrill Lynch, Citigroup Inc., the Royal Bank of Canada and William Blair for a potential IPO, the report said.
Velodyne wants to surpass his private valuation of $ 1.8 billion and become public before the end of 2019, adds Business Insider and quotes a source.
Nikon Corp invested $ 25 million in the self-propelled car technology company in December 2018.
Velodyne Lidar did not respond to Reuter's request for comment outside of regular hours.
Reporting of Ishita Chigilli Palli in Bengaluru; Editing by Daniel Wallis
