WeRide, a self-driving tech company, has postponed its IPO plans initially scheduled for this week, needing additional time to finalize required documents.
The company is pursuing a $5 billion valuation and anticipates raising approximately $93 million through the IPO, amidst changing regulations regarding foreign public offerings.
As foreign direct investment into Chinese startups has decreased, firms like WeRide are exploring pathways to secure foreign funding amid lifting restrictions by Beijing.
However, WeRide's approval from Beijing for its IPO deal is set to expire this week, meaning they might have to re-present to regulators if they miss this deadline.
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