WeRide Closes US IPO; Shares Rise

MT Newswires Live10-29 01:45

WeRide (WRD) said Monday it has closed its initial public offering of 7.74 million American depositary shares at $15.50 apiece.

The Chinese self-driving startup said it expects gross proceeds of about $458.5 million from the IPO and concurrent private placements, assuming that underwriters fully exercise their option.

WeRide's ADSs debuted on Nasdaq on Friday.

Shares of the company were up 4.8% in recent trading.

Price: 17.35, Change: +0.80, Percent Change: +4.83

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