WeRide Inc (WRD) Prices 7.74M Share IPO at $15.50/sh

WeRide Inc. (“WeRide” or the “Company”) (Nasdaq: WRD), a global leader and a first mover in the autonomous driving industry, today announced the pricing of its initial public offering of 7,742,400 American depositary shares (“ADSs”), each representing three Class A ordinary shares of the Company, at a price to the public of US$15.50 per ADS. The ADSs have been approved for listing and are expected to begin trading on the Nasdaq Global Select Market on October 25, 2024, under the ticker symbol “WRD.” The offering is expected to close on October 28, 2024, subject to customary closing conditions.

In addition, the Company has granted the underwriters an option, exercisable within 30 days from the date of the final prospectus, to purchase up to an aggregate of 1,161,360 additional ADSs.

Concurrently with, and subject to, the completion of this offering, certain investors have agreed to purchase US$320.5 million in Class A ordinary shares from the Company through private placements pursuant to an exemption from registration with the United States Securities and Exchange Commission (the “SEC”) under Regulation S of the Securities Act of 1933, as amended. The Company may raise total gross proceeds of approximately US$458.5 million in the initial public offering and the concurrent private placements, assuming the underwriters of the initial public offering fully exercise their option to purchase additional ADSs.

Morgan Stanley Asia Limited, J.P. Morgan Securities LLC, China International Capital Corporation Hong Kong Securities Limited, ABCI Securities Company Limited, BNP Paribas Securities (Asia) Limited and Tiger Brokers (NZ) Limited are acting as underwriters for the offering.

A registration statement related to these securities (other than those in the concurrent private placements) has been filed with, and declared effective by the SEC. This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

This offering is being made only by means of a prospectus forming part of the effective registration statement. A copy of the final prospectus relating to the offering may be obtained, when available, by contacting Morgan Stanley Asia Limited , c/o Morgan Stanley & Co. LLC, 180 Varick Street, 2nd Floor, New York, NY 10014, United States of America, or by calling +1-866-718-1649, or by email at [email protected]; J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 or by email at [email protected] and [email protected]; and China International Capital Corporation Hong Kong Securities Limited at 29/F, One International Finance Centre, 1 Harbour View Street, Central, Hong Kong or by telephone at +852-2872-2000 or by e-mailing [email protected].

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