WeRide Aims to Raise $308 Million in Hong Kong IPO Amid Autonomous Vehicle Sector Growth
Chinese autonomous vehicle firm WeRide is preparing for a Hong Kong IPO, pricing shares at HK$27.10 each to raise approximately HK$2.39 billion ($307.7 million). The offering represents a 4% discount to its Nasdaq closing price of $10.90 on Monday. The Guangzhou-based company, alongside rival Pony AI Inc., is set to debut in Hong Kong on November 6, signaling the city's growing appeal as a listing destination amid U.S. delisting concerns.
Morgan Stanley, China International Capital Corp, and JPMorgan Chase & Co. are joint sponsors for the offering. Proceeds will fund advancements in autonomous driving technology, commercialization of robotaxis, and global expansion. Strategic investors include Temasek Holdings, Bosch, Uber, and Grab, underscoring confidence in WeRide's growth trajectory.
