REUTERS: Autonomous vehicle technology company Velodyne Lidar has hired bankers for an initial public offering, Business Insider reported on Saturday, citing sources familiar with the process.
The San Jose, California-based company is working with Bank of America Merrill Lynch, Citigroup Inc, Royal Bank of Canada, and William Blair for a potential IPO, the report said.Velodyne is looking to surpass its private valuation of US$1.8 billion and go public before the end of 2019, Business insider added, citing a source.Velodyne Lidar did not respond to Reuters' request for comment outside regular business hours.
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