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WeRide Raises $440.5 Million in U.S. IPO, Valued at $4.21 Billion, Prices Shares at $15.50

Oct 25, 2024, 09:41 AM

Chinese self-driving startup WeRide Inc. has successfully completed its U.S. initial public offering (IPO), raising approximately $440.5 million. The company, based in Guangzhou, priced its American Depositary Shares (ADS) at $15.50, which is at the lower end of its targeted range. WeRide sold 7.74 million shares during the IPO, resulting in a valuation of $4.21 billion. This marks a significant milestone for WeRide, which is known for its autonomous taxis, vans, buses, and street sweepers, and is currently conducting commercial pilots in 30 cities across seven countries. The IPO comes amid a growing interest in the autonomous driving sector, following other successful public offerings in the industry.