WeRide's Historic IPO on Nasdaq
WeRide, a leading name in the field of autonomous driving technology, has made headlines recently with its official listing on the Nasdaq Global Select Market under the ticker symbol "WRD." This momentous occasion marks WeRide as the world's first publicly listed universal autonomous driving technology company and the pioneering publicly listed Robotaxi company.
Details of the Initial Public Offering
The IPO price was set at $15.5 per American depositary share (ADS), and if the underwriters decide to fully use their granted options, the company will issue a total of 8,903,760 ADSs. Total proceeds from this public offering, coupled with a $320 million concurrent private placement, are anticipated to reach an impressive $458.5 million, contingent upon the underwriters fully exercising their options.
Words from the Leadership
Tony Han, the founder and CEO of WeRide, expressed his gratitude, stating, "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." This statement emphasizes the company's commitment to progressing in the autonomous technology landscape.
WeRide’s Journey in Autonomous Driving
Since its inception in 2017, WeRide has focused on transforming urban landscapes through revolutionary autonomous driving solutions. The company’s technologies range from Level 2 to Level 4 automation, encompassing a diverse range of products such as Robotaxi, Robobus, Robovan, Robosweeper, and advanced driver-assistance systems (ADAS). Moreover, these applications span various sectors, including smart mobility, smart logistics, and smart sanitation, showcasing the company’s versatility.
Global Operations and Market Reach
WeRide stands out as the sole technology provider globally that simultaneously holds autonomous driving licenses in key regions, including China, the UAE, Singapore, and the U.S. The company has undertaken extensive research, development, testing, and operational activities across 30 cities in seven different countries, accumulating over 1,700 days of successful operations. In a substantial recognition, WeRide ranked eighth in Fortune's 2023 Change the World list, highlighting its impact in the industry.
Vision for the Future
Looking forward, WeRide is unwavering in its mission to advance autonomous driving technology further. The company is dedicated to delivering innovative products and services that contribute to greener, low-carbon, and sustainable urban living. With the IPO opening new avenues for growth, WeRide aims to continue leading in the autonomous vehicle sector.
Contact WeRide for More Information
For further inquiries or interest in WeRide's developments, Robin Yang from ICR, LLC can be contacted at:
Email: WeRide.IR@icrinc.com
Phone: +1 (646) 224-6934
Frequently Asked Questions
What is WeRide known for?
WeRide is recognized as a leading company in the development of universal autonomous driving technologies.
What was the IPO price for WeRide's shares?
The initial public offering price was set at $15.5 per American depositary share (ADS).
In how many cities has WeRide conducted operations?
WeRide has conducted autonomous driving operations in 30 cities across seven countries.
What is unique about WeRide's licensing?
WeRide is the only technology company holding simultaneous autonomous driving licenses in several major markets, including China, the UAE, Singapore, and the U.S.
What are WeRide's future ambitions?
WeRide aims to continue technological advancements in autonomous driving and promote sustainable urban living through its services.
