WeRide postpones US IPO plan TapTechNews

TapTechNews August 24th news, according to CNBC reports, domestic autonomous driving technology company WeRide has postponed its plan to go public through an IPO in the US.

In a statement released by WeRide on Thursday, it said: The time to update the transaction documents is currently longer than expected, and WeRide is working hard to complete the documents needed to advance the transaction.

WeRide submitted its prospectus to Nasdaq on July 27th and was labeled as the first stock of Robotaxi and the first stock of general autonomous driving, attracting widespread attention.

WeRide originally planned to issue 6.5 million ADS (American Depositary Shares), with the offering price ranging from 15.50 US dollars to 18.50 US dollars. The company hoped to raise up to 440 million US dollars (TapTechNews note: currently about 3.143 billion RMB) through the scheduled listing in the US this week.

According to Pitchbook data, this company that develops autonomous driving technology for robot taxis, minibuses, and freight sanitation vehicles was last valued at approximately 5.11 billion US dollars and has raised 1.39 billion US dollars so far.