Visitors observe a WeRide robobus at the second Global Digital Trade Expo in Hangzhou, Zhejiang province, on Nov 23. (LONG WEI/FOR CHINA DAILY) Chinese autonomous driving company WeRide is looking for its shares to take a ride on the Nasdaq. WeRide, based in Guangzhou in South China's Guangdong province, plans to offer 6.
45 million American depositary shares, or ADS, at a price range of $15.50 to $18.50 in its upcoming initial public offering, according to a filing by the company late on Friday with the U.
S. Securities and Exchange Commission, or SEC. The main underwriters of the offering are Morgan Stanley, JPMorgan and China International Capital Corporation, a multinational investment management and financial services company based in Beijing.
WeRide was founded in 2017 by Tony Han, who is also chairman and CEO. The company plans to trade under the symbol WRD on Nasdaq. The company reported its last year revenue of 401.
8 million yuan ($55.3 million). For the first six months of this year, it had a revenue of 150.
3 million yuan, according to the filing. It will be the largest IPO by a Chinese company on the U.S.
stock market since Zeekr, a luxury EV startup owned by Geely, began selling shares on the New York Stock Exchange in May, TechCrunch reported. WeRide also may have to contend with a U.S.
Commerce Department proposal that could bar Chinese software in autonomous and connected vehicles, Reuters reported last Monday, citing sources briefed on the matter. President Joe .