(Reuters) -Chinese autonomous driving firm WeRide plans to price its Hong Kong share sale at HK$27.10 per share and 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 […]
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China’s WeRide targets about $308 million in HK listing, Bloomberg News reports
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(Reuters) -Chinese autonomous driving firm WeRide plans to price its Hong Kong share sale at HK$27.10 per share and 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 was listed on Nasdaq in October 2024.
WeRide, in an emailed response to Reuters, said it was unable to provide any comments on 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.
($1 = 7.7675 Hong Kong dollars)
(Reporting by Roushni Nair and Shivangi Lahiri in Bengaluru; Editing by Subhranshu Sahu and Rashmi Aich)