Hesai, Taikang Life Are Said to Plan Investing in Manycore Tech’s Hong Kong IPO

Hesai Group and Taikang Life Insurance Co. are among key companies set to invest in spatial-design software maker Manycore Tech Inc.’s initial public offering in Hong Kong, according to people familiar with the matter.

Hesai and Taikang Life are planning to participate as cornerstone investors, which get guaranteed allocation in a deal in exchange for holding the shares for a period of time, the people said, asking not to be identified to discuss a private matter.