He IPO The announcement comes at a time when Biden Administration He is expected to propose banning Chinese entry software in autonomous and connected vehicles in the United States in the coming weeks.
WeRide is seeking to raise up to $119.4 million by offering 6.45 million American Depositary Shares at a price between $15.50 and $18.50 per share.
Some investors have also agreed to purchase $320.5 million worth of WeRide shares in a concurrent private placement that is subject to completion of the IPO.
German automotive supplier Robert Bosch GmbH has expressed interest in buying up to $100 million worth of shares sold in the IPO.
Morgan Stanley, JP Morgan and Porcelain International Capital Corporation is the lead underwriter for the IPO.
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WeRide will be listed on the Nasdaq under the symbol “WRD.”
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