Sign up for our weekly emails to stay up to date on the latest news!
WeRide Inc., a leader in the autonomous driving industry, has announced the pricing of its initial public offering (IPO) of 7,742,400 American depositary shares (ADSs) at $15.50 per ADS. The ADSs will be listed on the Nasdaq Global Select Market under the ticker symbol “WRD” and are expected to begin trading on October 25, 2024. The IPO, combined with concurrent private placements, could raise $458.5 million in gross proceeds for the company.
Key Highlights:
- 7,742,400 ADSs priced at $15.50 per ADS.
- Expected trading on Nasdaq starting October 25, 2024 under the ticker “WRD”.
- $320.5 million raised through private placements, potentially bringing total gross proceeds to $458.5 million.
- Morgan Stanley Asia Limited, J.P. Morgan Securities LLC, and others are acting as underwriters.
The IPO includes the option for underwriters to purchase an additional 1,161,360 ADSs within 30 days from the date of the final prospectus. The offering is expected to close on October 28, 2024, pending customary conditions.
Alongside the IPO, certain investors have committed to purchasing $320.5 million in Class A ordinary shares through private placements. This is in addition to the IPO, which could result in WeRide raising approximately $458.5 million in total, assuming the full exercise of the underwriters’ option.
The IPO is underwritten by major financial institutions including Morgan Stanley Asia Limited, J.P. Morgan Securities LLC, China International Capital Corporation Hong Kong Securities Limited, among others. A registration statement for these securities has been filed with the U.S. Securities and Exchange Commission (SEC) and declared effective.
WeRide is known for its pioneering work in autonomous driving technologies, ranging from Level 2 to Level 4 solutions. In September 2023, the company was recognized by Fortune Magazine as one of the “2023 Change the World” companies for its contributions to transportation and mobility.
Sign up for our weekly emails to stay up to date on the latest news!
