
Autonomous-driving firm proposes global offering in Hong Kong after Nasdaq debut, filing for HK$2.39 billion share sale
Guangzhou-based autonomous-driving company WeRide Inc is preparing to launch a dual primary listing in Hong Kong, with the goal of raising approximately HK$2.39 billion (about US$308 million).
The firm plans to issue roughly 88 million new Class A ordinary shares, with an indicative price around HK$27.10 per share and a prior maximum of HK$35 per share, according to people familiar with the matter.
Having listed on the Nasdaq in October 2024, WeRide recently disclosed in a United States Securities and Exchange Commission filing that the China Securities Regulatory Commission had issued a notice of filing supporting a proposed global offering and dual primary Hong Kong listing.
The company has retained Morgan Stanley and China International Capital Corp as lead advisers for the transaction.
The funding round comes amid deteriorating relations between the United States and China and reflects a broader trend of U.S.-listed Chinese firms seeking alternative capital sources in Hong Kong.
WeRide’s current U.S. market valuation is roughly US$3 billion and its move into the Hong Kong market is seen as a strategic bid to diversify its investor base and mitigate regulatory risk.
Despite revenue growth — WeRide reported a second-quarter revenue of approximately RMB 127.2 million (about US$17.8 million), up around 60.8% year-on-year — the company remains unprofitable, with a net loss of RMB 406.4 million in the quarter.
The capital raise aims to support continued global deployment of its Level 4 autonomous-driving technology, including robotaxi and robobus services, and to fund further research and development.
If successful, the listing will position WeRide as one of the first major Chinese robotaxi players to tap the Hong Kong market via a dual primary structure.
The ultimate size, pricing and timing of the offering remain subject to regulatory approvals and market conditions.
The firm plans to issue roughly 88 million new Class A ordinary shares, with an indicative price around HK$27.10 per share and a prior maximum of HK$35 per share, according to people familiar with the matter.
Having listed on the Nasdaq in October 2024, WeRide recently disclosed in a United States Securities and Exchange Commission filing that the China Securities Regulatory Commission had issued a notice of filing supporting a proposed global offering and dual primary Hong Kong listing.
The company has retained Morgan Stanley and China International Capital Corp as lead advisers for the transaction.
The funding round comes amid deteriorating relations between the United States and China and reflects a broader trend of U.S.-listed Chinese firms seeking alternative capital sources in Hong Kong.
WeRide’s current U.S. market valuation is roughly US$3 billion and its move into the Hong Kong market is seen as a strategic bid to diversify its investor base and mitigate regulatory risk.
Despite revenue growth — WeRide reported a second-quarter revenue of approximately RMB 127.2 million (about US$17.8 million), up around 60.8% year-on-year — the company remains unprofitable, with a net loss of RMB 406.4 million in the quarter.
The capital raise aims to support continued global deployment of its Level 4 autonomous-driving technology, including robotaxi and robobus services, and to fund further research and development.
If successful, the listing will position WeRide as one of the first major Chinese robotaxi players to tap the Hong Kong market via a dual primary structure.
The ultimate size, pricing and timing of the offering remain subject to regulatory approvals and market conditions.







































