(Reuters) -Chinese autonomous-driving firm WeRide on Tuesday set the final offer price for its Hong Kong share sale at HK$27.10 per share, saying it expects to raise HK$2.39 billion ($307.69 million) from the listing.
The Guangzhou-based company said it will offer about 88.3 million shares at HK$27.10 each and expects trading to begin on the Hong Kong Stock Exchange on Thursday, November 6.
WeRide priced the deal below the maximum price of HK$35 per share outlined in a prospectus filed on October 27. Bloomberg first reported pricing guidance on Monday.
Reuters reported last month that WeRide tapped Morgan Stanley and China International Capital Corp to lead its planned dual primary listing in Hong Kong, citing three sources familiar with the matter. It was listed on Nasdaq in October 2024.
The share sale comes amid growing investor appetite for next-generation mobility and as a slew of U.S.-listed Chinese companies seek to raise capital via secondary listings in Hong Kong.
The trend is partly driven by concerns over potential forced delistings from U.S. exchanges as trade relations between the world’s two largest economies deteriorate.
Founded in 2017, WeRide 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, Rashmi Aich and Tasim Zahid)
