WeRide has been officially listed on the Nasdaq Global Select Market under the ticker symbol WRD. The brand says it is the world’s first publicly listed autonomous technology company and the first publicly listed robotaxi company.
The initial public offering price was fixed at US$15.5 per American depositary share (ADS). Provided the underwriters fully exercise the granted option, the brand will issue a total of 8,903,760 ADS. The total proceeds from the IPO and concurrent private placement are expected to add up to US$458.5m.
Tony Han, founder and CEO of WeRide, said, “We are deeply grateful to our investors, clients, employees and all our partners for their trust and support. Together, we have achieved this important milestone. 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.”
WeRide was established in 2017 and has focused on providing autonomous driving solutions ranging from Level 2 to Level 4. The company has developed a comprehensive portfolio over the years. These include Robotaxi, Robobus, Robovan, Robosweeper and advanced driver-assistance system (ADAS), with application scenarios spanning smart mobility, smart logistics and smart sanitation.
WeRide is the only technology company with autonomous driving licenses in China, the UAE, Singapore and the US. The brand has undertaken autonomous driving R&D, testing and operations across 30 cities in seven countries.