WeRide, a Chinese developer of autonomous vehicle systems and software, raised $120 million by offering 7.7 million ADSs at $15.50, the low end of the range of $15.50 to $18.50. It offered 1.3 million more ADSs than anticipated. The company had originally planned to list in August but postponed; it revived the offering shortly after, and relaunched earlier this week.
WeRide is developing autonomous driving products and services, including Level 4 autonomy. It is currently operating and testing its products throughout 30 cities in 7 countries, and also offers paid autonomous robotaxi services to the public. It has accumulated 10,000 vehicle orders. It also sells robobuses, robosweepers, and related sensor suites.
WeRide plans to list on the Nasdaq under the symbol WRD. Morgan Stanley, J.P. Morgan, and CICC acted as joint bookrunners on the deal.
