The World's First IPO of Universal Autonomous Driving Technology Company! WeRide Officially Listed on Nasdaq
NEW YORK, Oct. 28, 2024 (GLOBE NEWSWIRE) -- WeRide, the leading global commercial-stage company, was officially listed on the Nasdaq Global Select Market under the ticker symbol "WRD." Upon listing, WeRide became the world's first publicly listed universal autonomous driving technology company and the first publicly listed Robotaxi company. The initial public offering price was set at $15.5 per American depositary share (ADS). If the underwriters fully exercise the granted option, the Company will issue a total of 8,903,760 ADSs. 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.
Tony Han, Founder and CEO of WeRide, stated: "Seven years of perseverance have led to WeRide's new journey today. 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."
Since its establishment in 2017, WeRide has been committed to transform 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, smart logistics, and smart sanitation.
Today, WeRide is the only technology company worldwide simultaneously holding autonomous driving licenses in China, the UAE, Singapore, and the U.S. It 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.
Contact
Robin Yang
ICR, LLC
[email protected]
+1 (646) 224-6934
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/fad34600-d595-4648-8982-f1c9877b46c1
