WeRide, a global leader in autonomous driving, announced the pricing of its initial public offering (IPO) of 7,742,400 American depositary shares, with each ADS representing three Class A ordinary shares of the Company, priced at $15.50 per ADS. The ADSs are set to be listed on the Nasdaq Global Select Market under the symbol “WRD,” with trading expected to commence on October 25, 2024. The offering is anticipated to close on October 28, 2024, subject to customary closing conditions.
Self-driving startup WeRide announces IPO pricing
Additionally, the Company has granted the underwriters a 30-day option to purchase up to 1,161,360 additional ADSs.
Simultaneously and contingent upon the completion of this offering, certain investors have committed to purchasing $320.5 million worth of the Company’s Class A common stock through private placements, exempt from registration with the United States Securities and Exchange Commission (SEC) under Regulation S of the Securities Act of 1933, as amended.
IPO details
If the underwriters fully exercise their option for additional ADSs, the Company could raise approximately $458.5 million in total gross proceeds from the IPO and concurrent private placements.
The underwriters for this offering include Morgan Stanley Asia Limited, J.P. Morgan Securities LLC, China International Capital Corporation Hong Kong Securities Limited, ABCI Securities Company Limited, BNP Paribas Securities (Asia) Limited, and Tiger Brokers (NZ) Limited.
