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Velodyne Lidar hires bankers for an IPO - Business Insider

Published 2019-06-22, 07:09 p/m
Updated 2019-06-22, 07:10 p/m
© Reuters.  Velodyne Lidar hires bankers for an IPO - Business Insider

June 22 (Reuters) - Autonomous vehicle technology company Velodyne Lidar has hired bankers for an initial public offering, Business Insider reported https://www.businessinsider.com/velodyne-lidar-has-hired-bankers-for-an-ipo-2019-6 on Saturday, citing sources familiar with the process.

The San Jose, California-based company is working with Bank of America Merrill Lynch (NYSE:BAC) BAC.N , Citigroup Inc (NYSE:C) C.N , Royal Bank of Canada RY.TO , and William Blair for a potential IPO, the report said.

Velodyne is looking to surpass its private valuation of $1.8 billion and go public before the end of 2019, Business insider added, citing a source.

Nikon Corp 7731.T invested $25 million in the self-driving car technology company in December 2018. Lidar did not respond to Reuters' request for comment outside regular business hours.

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