Westwell Is Said to Prepare for Hong Kong Debut Next Year
- Company is working with CICC, Citic, CMBI, people say
- Westwell counts Maersk, Hutchison Port, Cosco among customers
A demonstration for autonomous trucks at the Shanghai Westwell Lab Information Technology Co. headquarters in Shanghai.
Photographer: Qilai Shen/BloombergThis article is for subscribers only.
Westwell, a Chinese company that develops autonomous-driving technology for logistics companies, is gearing up for a Hong Kong initial public offering, according to people familiar with the matter.
Shanghai Westwell Lab Information Technology Co. is working with China International Capital Corp., Citic Securities Co. and CMB International for the offering, which could happen as early as 2025, the people said, asking not to be identified because the matter is private. The company is planning on raising as much as $100 million, one person said.