Chinese autonomous driving firm WeRide plans to price its Hong Kong share sale at HK$27.10 per share, aiming to raise HK$2.39 billion ($307.7 million) from the listing, Bloomberg News reported on Tuesday.
Reuters reported last month that WeRide had tapped Morgan Stanley and China International Capital Corp to lead its planned dual primary listing in Hong Kong, citing three sources familiar with the matter. It listed on Nasdaq in October 2024.
WeRide did not immediately respond to a Reuters’ request seeking details of the final offer price.
The Guangzhou-based company is selling 88.3 million shares and has set a maximum price of HK$35 each, its prospectus lodged on October 27 shows.
The share sale comes amid growing investor appetite for next-generation mobility plays and as a slew of U.S.-listed Chinese companies seek to raise capital via secondary listings in Hong Kong.
Such moves have been driven partly by fears of potential forced delistings of Chinese companies from U.S. exchanges since trade relations between the world’s two largest economies have deteriorated sharply this year.
Founded in 2017, WeRide develops autonomous-driving technology and operates robotaxi services in China and internationally, according to its official website and announcements.
Rival Pony AI has set the final offer price for its Hong Kong listing at HK$139 per share, according to a filing with the exchange on Monday.
Reuters
