WeRide Raises $440.5M Via US IPO And Placement To Fuel Its Autonomous Driving Vision, Valued At Over $4B

China-based autonomous driving startup WeRide announced on Friday that it raised $440.5 million via an initial public offering in the U.S., alongside private placement. The company’s American Depository Shares (ADS) have been approved for listing and are expected to begin trading on the Nasdaq Global Select Market on Friday.

What Happened: The initial public offering of the 7.7 million ADSs was priced at $15.5 to the public, or at the lower end of its targeted range, the company said, bringing the IPO proceeds to $120 million.

Certain investors have also agreed to purchase $320.5 million ...