China’s Pony.ai, WeRide file for Hong Kong IPOs in milestone for driverless tech sector
The filings come after both firms secured regulatory approval from the China Securities Regulatory Commission earlier this month
Pony.ai and WeRide, two of China’s leading autonomous driving companies, have filed prospectuses for initial public offerings (IPOs) in Hong Kong, marking a milestone for the nation’s driverless technology sector, as it seeks capital market validation amid intensifying global competition.
Pony.ai, based in Guangzhou and incorporated in the Cayman Islands, plans to sell 41.96 million Class A shares under its global offering, including 4.2 million shares for Hong Kong retail investors.
The maximum offer price, set at HK$180 (US$23) per share, could potentially value the company at more than US$10 billion. Trading on the Hong Kong stock exchange is expected to begin on November 6, under the stock code 2026. Pony.ai’s American depositary shares are already listed on Nasdaq under the ticker PONY.
WeRide, another Level 4 autonomous driving pioneer, also headquartered in Guangzhou, capital of southern Guangdong province, aims to issue 88.25 million shares at up to HK$35 each, with 4.41 million offered to Hong Kong investors. Its trading will also begin on November 6 under stock code 0800.
It is listing under Chapter 18C, Hong Kong’s specialist technology regime designed to attract innovative, pre-profit tech companies.
The pricing of both IPOs is expected to be set on November 4.