China’s WeRide Delays US IPO Just as Deadline Nears
- Beijing’s approval for deal is set to expire this week
- WeRide was seeking $440 million in the IPO and placement
A WeRide self-driving mini robobus in Guangzhou.
Photographer: Chen Jimin/China News Service/Getty Images
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WeRide Inc. has postponed its plan for a US initial public offering, according to people with knowledge of the matter, days before Chinese regulatory approval lapses.
The company is still preparing for its first-time share sale, in part to complete documentation for US securities regulators, the people said, asking not to be identified because the matter is private.