An EHang Inc. E-184 drone.
Technology startup is working on producing passenger drones.
EHang may raise as much as $200 million in public offering.
EHang, one of China’s largest drone makers, has made a confidential application for an initial public offering with Nasdaq Inc., according to people with knowledge of the matter.
EHang plans to float 10% to 15% of its shares, with the company’s valuation not yet set due to volatile market conditions, said one of the people, who asked not to be identified because the plans aren’t public. EHang may raise as much as $200 million in the IPO, one of the people said.