"Shares of WeRide start trading on Hong Kong's stock exchange today, just over a year after the robotaxi firm forayed into U.S. markets with a Nasdaq listing. For CEO and founder Tony Han, the offering is part of a global strategy to fund the expensive but necessary research behind the company's autonomous-driving tech. WeRide's shares are now listed on both the Nasdaq and the Hong Kong Stock Exchange."
""We want to make our stock more accessible to investors all over the world," Han told Fortune in late October, on the sidelines of the Fortune Global Forum. "China is a very important market, both for consumers and also for investors. A Hong Kong dual listing actually helps some potential investors who can only invest in the Hong Kong stock market to buy our stock.""
WeRide began trading on the Hong Kong Stock Exchange as a dual primary listing alongside its Nasdaq listing, enabling mainland Chinese investors to buy shares via Southbound Stock Connect. CEO Tony Han says the dual listing increases global accessibility and positions the company to raise capital for costly autonomous-driving research, development, and deployment. The Hong Kong proceeds will supplement further fundraising needs. Fellow robotaxi firm Pony AI also listed in Hong Kong after a Nasdaq IPO. Hong Kong's booming IPO market attracts Chinese firms seeking both international and mainland capital and offers a geopolitical fallback for U.S.-listed Chinese companies.
Read at Fortune
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