Self-driving car companies Pony.ai and WeRide get the OK for Hong Kong listing | TechCrunch

"Pony.AI and WeRide have received a key approval from Chinese securities regulators that clears the way for the for the autonomous vehicle technology companies to pursue secondary listings on the Stock Exchange of Hong Kong. The Chinese companies, both of which are based in Guangzhou, are already publicly traded in the U.S. on the Nasdaq Exchange. WeRide made its public debut in October 2024, and Pony.AI followed a month later."

"Now, Pony.ai and WeRide are each aiming to sell shares on the Hong Kong Exchange, following a trend of Chinese companies that have pursued a secondary listing. Pony.ai and WeRide said the China Securities Regulatory Commission had issued a notice approving their proposed listing, according to regulatory filings reported to the U.S. Securities and Exchange Commission. The CSRC has the final authority to determine whether a company can go public overseas."

"The CSRC has the final authority to determine whether a company can go public overseas. Both companies appear ready to proceed with their respective proposed global offering and listing. Reuters reported WeRide has hired Morgan Stanley and China International Capital Corp to work on a dual primary listing in Hong Kong, citing anonymous sources. WeRide plans to complete the listing in December."

Pony.AI and WeRide obtained approval from Chinese securities regulators to pursue secondary listings on the Stock Exchange of Hong Kong. Both companies are based in Guangzhou and are already publicly traded on the Nasdaq, with WeRide debuting in October 2024 and Pony.AI following in November. Each company plans to sell shares on the Hong Kong Exchange as part of a broader trend of Chinese firms seeking secondary listings. The China Securities Regulatory Commission issued notices approving the proposed listings and retains final authority over overseas public offerings. WeRide has engaged Morgan Stanley and China International Capital Corp and aims to complete its listing in December.

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