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WeRide raises USD 440.5 million in IPO and private placement
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Oct 25, 2024
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Oct 25, 2024

WeRide raises USD 440.5 million in IPO and private placement

Listing

  • WeRide, a Chinese self-driving tech startup, has raised USD 440.5 million through a US IPO (USD 120 million) and private placement (USD 320.5 million), with Morgan Stanley, J.P. Morgan, and China International Capital Corp leading the IPO. The company reached a valuation of USD 4.21 billion.

  • The company sold 7.7 million American depositary shares at USD 15.50 each, the lower end of its target price range of USD 15.50 to USD 18.50 per share. The company has now begun trading on the Nasdaq.

  • Analyst QuickTake: WeRide first announced filing for a US IPO in July 2024 but was postponed , citing the need for time to complete the documentation processes. Today, we increasingly notice strategic moves by Chinese firms amid geopolitical tensions. Chinese regulators also allowed autonomous vehicle tech firms like Pony.ai and Momenta to list in the US market, and Tesla got approval to test its ADAS "Full Self-Driving (FSD)" software in Shanghai's Nanhui New City District, despite US-China tensions.

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