WeRide first autonomous driving firm to go public on Nasdaq
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In a historic debut, WeRide, the pioneering global company in autonomous driving technology, was officially listed on the Nasdaq Global Select Market on October 25, 2024, under the ticker symbol "WRD." This IPO makes WeRide the first publicly listed company specializing in universal autonomous driving and the first Robotaxi firm to enter the public market, marking a major milestone for the sector.
WeRide first autonomous driving firm to go public on Nasdaq Priced at $15.5 per American depositary share (ADS), WeRide’s IPO includes the issuance of 8,903,760 ADSs, pending full exercise of the underwriters’ option. Combined with a $320 million concurrent private placement, the company expects total proceeds of approximately $458.5 million. This capital injection is set to fuel further expansion and technological advancements as WeRide solidifies its role as a leader in the autonomous driving field.
Founded in 2017, WeRide has rapidly emerged as a prominent force in the autonomous mobility sector, developing solutions that span from advanced driver-assistance systems (ADAS) to Level 4 autonomy. Its product lineup includes innovative offerings like Robotaxi, Robobus, Robovan, and Robosweeper, each addressing different aspects of urban mobility, logistics, and sanitation.
In his address, Tony Han, Founder and CEO, reflected on the company’s journey: “Seven years of perseverance have led to WeRide’s new journey today. Going public is a new beginning, and WeRide will continue to drive technological innovation, delivering safe, comfortable, and convenient autonomous driving products.” WeRide’s reach and capabilities are impressive; it holds autonomous driving licenses in diverse global markets, including China, the UAE, Singapore, and the U.S. With over 1,700 days of operational experience across 30 cities in seven countries, the company is uniquely positioned in the market. WeRide’s position was further solidified when it ranked eighth on Fortune’s 2023 Change the World list, highlighting its commitment to impactful innovation.
Looking forward, WeRide aims to continue pushing boundaries in autonomous driving, contributing to sustainable urban living with low-carbon solutions. With a strong mission and fresh capital, WeRide’s IPO marks a promising step in the evolving landscape of autonomous mobility, setting the stage for future growth in this transformative industry.
WeRide first autonomous driving firm to go public on Nasdaq Priced at $15.5 per American depositary share (ADS), WeRide’s IPO includes the issuance of 8,903,760 ADSs, pending full exercise of the underwriters’ option. Combined with a $320 million concurrent private placement, the company expects total proceeds of approximately $458.5 million. This capital injection is set to fuel further expansion and technological advancements as WeRide solidifies its role as a leader in the autonomous driving field.
Founded in 2017, WeRide has rapidly emerged as a prominent force in the autonomous mobility sector, developing solutions that span from advanced driver-assistance systems (ADAS) to Level 4 autonomy. Its product lineup includes innovative offerings like Robotaxi, Robobus, Robovan, and Robosweeper, each addressing different aspects of urban mobility, logistics, and sanitation.
In his address, Tony Han, Founder and CEO, reflected on the company’s journey: “Seven years of perseverance have led to WeRide’s new journey today. Going public is a new beginning, and WeRide will continue to drive technological innovation, delivering safe, comfortable, and convenient autonomous driving products.” WeRide’s reach and capabilities are impressive; it holds autonomous driving licenses in diverse global markets, including China, the UAE, Singapore, and the U.S. With over 1,700 days of operational experience across 30 cities in seven countries, the company is uniquely positioned in the market. WeRide’s position was further solidified when it ranked eighth on Fortune’s 2023 Change the World list, highlighting its commitment to impactful innovation.
Looking forward, WeRide aims to continue pushing boundaries in autonomous driving, contributing to sustainable urban living with low-carbon solutions. With a strong mission and fresh capital, WeRide’s IPO marks a promising step in the evolving landscape of autonomous mobility, setting the stage for future growth in this transformative industry.