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WeRide Inc. (WRD) announced the pricing of its global offering of 88.25 million Class A ordinary shares at HK$27.10 per share. The offering comprises both an international offering and a Hong Kong public offering.
Based on the three-to-one ratio of Class A ordinary shares per American depositary share, the offering price translates to approximately $10.36 per ADS using an exchange rate of HK$7.8499 to $1.00 as of June 30, 2025.
The autonomous driving technology company granted an over-allotment option to international underwriters for up to 13.24 million additional shares at the same price. The option can be exercised within 30 days after the application period for the Hong Kong public offering closes.
WeRide’s Class A ordinary shares are expected to begin trading on the Main Board of the Hong Kong Stock Exchange on November 6, 2025, under stock code "0800," subject to approval from the exchange. The global offering is expected to close the same day.
The company expects gross proceeds of HK$2.39 billion before deducting underwriting fees and expenses, assuming the over-allotment option is not exercised. If the option is exercised in full, gross proceeds would reach HK$2.75 billion.
WeRide plans to use net proceeds to develop its autonomous driving technology, accelerate commercial production of L4 fleets, enhance product quality, expand business operations, establish marketing teams, and provide working capital.
China International Capital Corporation Hong Kong Securities Limited and Morgan Stanley Asia Limited serve as joint sponsors and overall coordinators for the offering, alongside J.P. Morgan Securities (Asia Pacific) Limited as an overall coordinator.