Autonomous drone developer EHang floated at the bottom of its range in an initial public offering that allowed Lung Biotechnology and United Therapeutics to exit.
EHang Holdings, a China-based drone technology developer that counts corporates Lung Biotechnology and United Therapeutics Corporation as investors, has gone public in a $40m initial public offering in the US.
The company priced 3.2 million American Depositary Shares (ADSs), each representing two ordinary shares, at $12.50 each, at the foot of the $12.50-$14.50 range it had set. It floated on the Nasdaq Global Market.
EHang is developing autonomous drone technology for use in passenger transport, logistics and airborne media.…
