Autonomous Driving Startup WeRide Sets Nasdaq IPO Pricing at USD 15.50
WeRide, 10/25/24
Guangzhou-based autonomous driving start-up WeRide (Nasdaq: WRD) today announced the pricing of its initial public offering of 7,742,400 American depositary shares ("ADSs") at a price to the public of USD 15.50 per ADS. The ADSs have been approved for listing and are expected to begin trading on the Nasdaq Global Select Market on October 25, 2024, under the ticker symbol "WRD." The offering is expected to close on October 28, 2024, subject to customary closing conditions.
In addition, the company has granted the underwriters an option, exercisable within 30 days from the date of the final prospectus, to purchase up to an aggregate of 1,161,360 additional ADSs.
Concurrently with, and subject to, the completion of this offering, certain investors have agreed to purchase USD 320.5 mln in Class A ordinary shares from the company through private placements. The company may raise total gross proceeds of approximately USD 458.5 mln in the initial public offering and the concurrent private placements, assuming the underwriters of the initial public offering fully exercise their option to purchase additional ADSs.
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 are acting as underwriters for the offering.
Editor's Note: To view WeRide's full press release, click here.
Keywords: WeRide WRD hardware IPO software driverless vehicle overseas
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