WeRide: no specific plan, schedule made for IPO

Beijing (Gasgoo)- China’s autonomous driving company WeRide on December 3 officially responded to the recent rumor about the company’s accelerated IPO in the U.S., according to posts from several local media outlets. 

Photo credit: WeRide

Early on, there had been talks about WeRide considering to fast track its IPO plan in the U.S. According to a foreign media channel, WeRide’s filing could come as soon as the end of this year, and the listing could be completed by June next year. In addition, the media channel claimed that WeRide has submitted a written application to the corresponding Chinese regulatory authorities in early October this year, and the company’s CEO, Han Xu, is seeking capital support in the United States.

Regarding the rumor, WeRide official said to reporters, the company has no specific timeframe for its public listing scheme. Meanwhile, the company stressed that all of WeRide’s testing and operations related to autonomous driving are in strict compliance with relevant national laws and regulations.

Notably, in August this year, Bloomberg reported that WeRide was working with advisers on a potential listing and was weighing venues including the U.S. and Hong Kong. The report, citing people close to the matter, said that WeRide could file for a first-time share sale as soon as September and aim for a listing as early as this year.