WeRide, a worldwide autonomous driving technology manufacturer, has officially been listed on the Nasdaq Global Select Market under the ticker symbol “WRD.” The initial public offering price was set at $15.50 per American depositary share (ADS). If the underwriters fully exercise the granted option, WeRide will issue a total of 8,903,760 ADS’s, according to the company.
The total proceeds from the public offering, combined with $320 million concurrent private placement, are expected to amount to $458.5 million, assuming the underwriters of the initial public offering fully exercise their option, officials stated in a press release.
“Seven years of perseverance have led to WeRide’s new journey. We are deeply grateful to our investors, clients, employees, and all our partners for their trust and support,” said Tony Han, founder and CEO of WeRide. “For us, going public is a new beginning, and WeRide will continue to drive technological innovation, delivering safe, comfortable, and convenient autonomous driving products and services to more countries and regions.”
Since its establishment in 2017, WeRide has been committed to transforming urban living with autonomous driving, providing autonomous driving solutions ranging from Level 2 to Level 4. The company has developed a comprehensive portfolio, including Robotaxi, Robobus, Robovan, Robosweeper, and advanced driver-assistance system (ADAS), with application scenarios spanning smart mobility, logistics and sanitation, the release noted.
WeRide has conducted autonomous driving R&D, testing and operations across 30 cities in seven countries, with over 1,700 days of operation. In Fortune’s 2023 Change the World list, WeRide ranked eighth.
Looking ahead, WeRide will remain committed to its mission, continuing to advance autonomous driving technology, and striving to provide innovative autonomous driving products and dedicated services that contribute to greener, low-carbon, and sustainable urban living, officials added.
