*

WeRide ( WRD ) hires Morgan Stanley ( MS ), CICC for Hong Kong secondary

listing

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Its market value stands at $3 billion, shares down 24%

this year

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WeRide ( WRD ) partners with Grab and Uber ( UBER ) for autonomous vehicle

services

By Yantoultra Ngui and Kane Wu

SINGAPORE/HONG KONG, Oct 14 (Reuters) - Chinese

autonomous driving firm WeRide ( WRD ) has hired Morgan Stanley ( MS )

and China International Capital Corp (CICC)

to work on a secondary listing in Hong Kong, three sources with

knowledge of the matter said.

The Guangzhou-based company, which listed on Nasdaq in

October 2024, is seeking regulatory approval in both Beijing and

Hong Kong for the share sale after filing confidentially with

the Hong Kong Stock Exchange, the sources said.

Details of the offering, including its size, have not been

finalised, said two of the sources. The Nasdaq-listed company

has a market value of about $3 billion as of Monday's market

close.

"WeRide ( WRD ) is unable to comment on queries regarding a

potential listing," the company said in an emailed statement to

Reuters on Tuesday. "We remain focused on executing our business

strategy and delivering value to our stakeholders."

Morgan Stanley ( MS ) declined to comment. CICC did not immediately

respond to a request for comment.

The sources did not wish to be identified as the matter was

private.

Some U.S.-listed Chinese companies are seeking to raise

capital via secondary listings in Hong Kong. Such moves have

been driven partly by concern over potential forced delistings

of Chinese companies from U.S. exchanges since trade relations

between the world's two largest economies deteriorated sharply

this year.

Confidential filings allow firms to navigate the regulatory

review process without public disclosure, offering flexibility

when listing timelines are uncertain.

Founded in 2017, WeRide ( WRD ) develops autonomous driving

technology and operates robotaxi services in China and

internationally, according to its official website and

announcements.

WeRide ( WRD ) shares have fallen about 24% so far this year to

trade at $10.76 apiece.

It reported total revenue of 127.2 million yuan ($17.8

million) in the second quarter, up 60.8% from a year earlier,

while its net loss narrowed slightly to 406.4 million yuan from

413.6 million over the same period, according to its latest

earnings release in July.

The company has partnerships with ride-hailing firms Grab

and Uber ( UBER ).

Grab announced in August that it had committed a strategic

equity investment in WeRide ( WRD ) and would work with the company to

deploy robotaxis and autonomous shuttles in Southeast Asia.

Grab and WeRide ( WRD ) are preparing to launch an autonomous

vehicle service in Singapore's Punggol district in 2026.

Uber ( UBER ) and WeRide ( WRD ) have partnered to bring autonomous vehicles

to the Uber ( UBER ) platform.

Grab said it is not in a position to comment on WeRide's ( WRD )

listing plans. Uber ( UBER ) did not immediately respond to a request for

comment on Tuesday.

($1 = 7.7771 Hong Kong dollars)

($1 = 7.1363 Chinese yuan renminbi)

(Reporting by Yantoultra Ngui in Singapore and Kane Wu in Hong

Kong; Editing by Muralikumar Anantharaman)