From CNBC: 2024-08-22 07:39:49

Self-driving technology company WeRide delays U.S. IPO, citing need for more time to complete documents. Was expected to offer 6.5 million ADS in $15.50-$18.50 range, looking to raise up to $440M. Last valued at $5.11B, has raised $1.39B. Beijing approval deadline this week, unclear if reapplication needed if missed. Founded in Silicon Valley in 2017, filed for IPO in July. WeRide launch of robotaxi service in Guangzhou, China, in 2019. IPO would be one of the largest U.S. listings by a Chinese company since Didi’s IPO in 2021.

Read more: China’s self-driving startup WeRide delays U.S. IPO as deadline looms