China’s WeRide Raises $440.5 Million in US IPO, Placement
- Autonomous vehicle company’s IPO priced at bottom of its range
- Offering upsized by 20%; underwriters have option to buy more
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Chinese self-driving automotive company WeRide Inc. has raised $440.5 million from its twice-delayed US initial public offering and concurrent private placement.
The IPO priced at the bottom of a $15.50-$18.50 range, but was upsized by 20% to a total of 7.74 million American depositary shares, the Guangzhou-based firm said in a statement Friday, confirming an earlier Bloomberg News report.