Stock Track | WeRide Shares Soar After Successful Nasdaq Listing and $440 Million IPO

Stock Track10-28 21:35

Shares of WeRide Inc. (WRD), a leading Chinese autonomous driving technology company, surged 14.50% on October 28, 2024, following the company's successful initial public offering (IPO) and listing on the Nasdaq Global Market.

The stock rally was fueled by WeRide's successful Nasdaq debut on October 25, which raised $440.5 million through the IPO and a private placement. The company sold 7.74 million American depositary shares at $15.50 per share, valuing WeRide at over $4 billion.

The strong investor demand and impressive valuation achieved through the IPO underscore the growing interest in self-driving technology and the potential for WeRide to capitalize on the rapidly evolving autonomous vehicle market. The fresh capital raised will likely be utilized to accelerate the company's research and development efforts, as well as expand its operational footprint.

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