WeRide Inc Closes $485.5 Million IPO

WeRide Inc. (Nasdaq: WRD), a global leader and pioneer in the autonomous driving industry, announced today that its previously announced initial public offering ("Offering") closed on October 28, 2024. As part of the Offering, a total of 7,742,400 American Depositary Shares ("ADS") were sold at a price of $15.50 each. Each ADS represents three Class A ordinary shares of the Company. WeRide's ADS began trading on the Nasdaq Global Select Market under the symbol "WRD" on October 25, 2024.

The Company granted underwriters a 30-day option to purchase up to an additional 1,161,360 ADSs to cover over-allotments, if any. Assuming this option is fully exercised, the Company may receive approximately $458.5 million in gross proceeds from the Offering and concurrent private placements, before deducting underwriting discounts and commissions and other estimated offering expenses.

Morgan Stanley (NYSE:MS) Asia Limited, J.P. Morgan Securities LLC, China International Capital Corporation Hong Kong Securities Limited, ABCI Securities Company Limited, BNP Paribas (EPA:BNPP) Securities (Asia) Limited, and Tiger Brokers (NZ) Limited served as underwriters for the Offering.

A registration statement (excluding those in concurrent private placements) relating to these securities was filed with and declared effective by the U.S. Securities and