WeRide Makes History with Its IPO on Nasdaq
WeRide, a pioneer in the field of autonomous driving technology, has officially made its debut on the Nasdaq Global Select Market, proudly trading under the ticker symbol "WRD." This momentous event marks a significant milestone as WeRide becomes the world’s first publicly listed autonomous driving technology company, as well as the first Robotaxi company to achieve this status.
Excitement Surrounds WeRide's Initial Public Offering
The excitement surrounding this initial public offering (IPO) was palpable, with the price set at $15.5 per American depositary share (ADS). Should the underwriters opt for their full allotment, WeRide anticipates issuing 8,903,760 ADSs. The total estimated proceeds from this public offering, in conjunction with a concurrent private placement of $320 million, could reach a remarkable $458.5 million.
Words from WeRide's Leadership
Tony Han, the Founder and CEO of WeRide, expressed profound gratitude about the company's journey. He emphasized that seven years of perseverance have culminated in this pivotal moment. Han acknowledged the trust and support of investors, clients, and partners, indicating that going public is just the beginning of a new chapter for WeRide. He reassured stakeholders that the company remains dedicated to technological innovation aimed at enhancing safety, comfort, and convenience in the autonomous driving landscape.
Commitment to Transforming Urban Mobility
Since its inception in 2017, WeRide has been steadfast in its commitment to revolutionizing urban transportation through autonomous driving solutions. They offer a range of services that include everything from Level 2 to Level 4 autonomy, encapsulated in products such as Robotaxi, Robobus, Robovan, Robosweeper, and advanced driver-assistance systems (ADAS). This diverse portfolio positions WeRide uniquely within smart mobility, logistics, and sanitation environments.
A Global Leader in Autonomous Driving Technology
WeRide holds a prestigious position as the sole technology company globally to possess autonomous driving licenses in critical regions including China, the UAE, Singapore, and the U.S. Their advanced R&D efforts, extensive testing, and operations have spanned across 30 cities in seven different countries, amassing over 1,700 operational days. Furthermore, WeRide was ranked eighth in Fortune’s celebrated 2023 Change the World list, underscoring its impactful contributions to the industry.
Future Vision: Commitment to Sustainability
Looking ahead, WeRide is poised to advance its mission of continually pushing the boundaries of autonomous driving technology. The company is dedicated to offering innovative products along with dedicated services that facilitate greener and sustainable urban living, ensuring a positive impact on society and the environment.
Company Contact Information
For further inquiries, Robin Yang from ICR, LLC can be contacted at the following email: WeRide.IR@icrinc.com or by phone at +1 (646) 224-6934.
Frequently Asked Questions
What is the significance of WeRide's IPO?
WeRide's IPO signifies a historic achievement as it becomes the world's first publicly listed universal autonomous driving technology company and Robotaxi provider.
What is the ticker symbol for WeRide?
WeRide trades under the ticker symbol "WRD" on the Nasdaq Global Select Market.
How much did WeRide raise from its IPO?
The estimated total proceeds from WeRide's IPO, combined with a private placement, could reach approximately $458.5 million.
What products does WeRide offer?
WeRide's product offerings include Robotaxi, Robobus, Robovan, Robosweeper, and advanced driver-assistance systems (ADAS), aimed at enhancing urban mobility.
Where does WeRide operate?
WeRide has conducted R&D and operations in 30 cities across seven countries, holding autonomous driving licenses in prominent regions including China, the UAE, Singapore, and the U.S.
