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 company, based in San Jose, Calif., is working with Bank of America Merrill Lynch, Citigroup, Royal Bank of Canada, 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 invested $25 million in the self-driving car technology company in December 2018.
Velodyne Lidar did not respond to Reuters' request for comment outside regular business hours.
