WeRide Raises $440.5M Via US IPO And Placement To Fuel Its Autonomous Driving Vision, Valued At Over $4B

Quick Summary:

China-based autonomous driving startup WeRide announced on Friday that it raised $440.5 million via an initial public offering in the U.S., alongside private placement.

What Happened: The initial public offering of the 7.7 million ADSs was priced at $15.5 to the public, or at the lower end of its targeted range, the company said, bringing the IPO proceeds to $120 million.

The company’s American Depository Shares (ADS) have been approved for listing and are expected to begin trading on the Nasdaq Global Select Market on Friday.

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Article Details

Author / Journalist: Anan Ashraf

Category: InvestingBusiness

Markets: United StatesChinaHong Kong

Topics: Benzinga EVs Autonomous vehicles WeRide Electric vehicles Tech Equities Mobility News IPOs Markets

Source Website Secure: Yes (HTTPS)

News Sentiment: Positive

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-25 @ 12:39:11 (3 days ago)

News Timezone: GMT +8:00

News Source URL: benzinga.com

Language: English

Article Length: 341 words

Reading Time: 2 minutes read

Sentences: 11 lines

Sentence Length: 31 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Benzinga

News ID: 23289313

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