EHang, a drone manufacturer based in China, is reportedly planning to make an initial public offering (IPO) in the United States.
The news is according to two sources speaking to Reuters who are said to have direct knowledge on the matter.
One of the sources said the deal could raise between $400m and $500m.
The Reuters’ sources speculates that Morgan Stanley and Credit Suisse are currently at work on preparing the offering.
Credit Suisse declined to comment after Reuters made a request for more information while EHang and Morgan Stanley did not reply.
Ehang was established in 2014 as an intelligent autonomous UAV firm with integrated R&D, manufacturing and sales and services capabilities.
It is headquartered in Guangzhou and says it aims to provide customers from various industries with user-friendly, safe, intelligent and efficient autonomous aerial vehicles (AAVs).