Nov 4 (Reuters) - Chinese autonomous driving firm WeRide ( WRD )
plans to price its Hong Kong share sale at HK$27.10 per
share, aiming to raise HK$2.39 billion ($307.7 million) from the
listing, Bloomberg News reported on Tuesday.
Reuters reported last month that WeRide ( WRD ) had tapped Morgan
Stanley ( MS ) and China International Capital Corp
to lead its planned dual primary listing in Hong Kong, citing
three sources familiar with the matter. It listed on Nasdaq in
October 2024.
WeRide ( WRD ) did not immediately respond to a Reuters' request
seeking details of the final offer price.
The Guangzhou-based company is selling 88.3 million shares
and has set a maximum price of HK$35 each, its prospectus lodged
on October 27 shows.
The share sale comes amid growing investor appetite for
next-generation mobility plays and as a slew of U.S.-listed
Chinese companies seek to raise capital via secondary listings
in Hong Kong.
Such moves have been driven partly by fears of potential
forced delistings of Chinese companies from U.S. exchanges since
trade relations between the world's two largest economies have
deteriorated sharply this year.
Founded in 2017, WeRide ( WRD ) develops autonomous-driving
technology and operates robotaxi services in China and
internationally, according to its official website and
announcements.
Rival Pony AI has set the final offer price for its
Hong Kong listing at HK$139 per share, according to a filing
with the exchange on Monday.
($1 = 7.7675 Hong Kong dollars)
(Reporting by Roushni Nair and Shivangi Lahiri in Bengaluru;
Editing by Subhranshu Sahu)