Latham & Watkins Guides Major IPO for WeRide, Raising $440.5 Million.

Latham & Watkins has successfully advised Morgan Stanley, J.P. Morgan, and China International Capital Corporation (CICC) in connection with WeRide's initial public offering (IPO) on the Nasdaq Stock Market. The IPO, along with associated private placements, generated approximately $440.5 million in gross proceeds.

The public offering included 7,742,400 American Depositary Shares (ADS) priced at $15.50 each.

This significant IPO not only marks a pivotal moment for WeRide but also highlights Latham & Watkins' extensive capabilities in navigating complex capital market transaction.

The Latham team was led by corporate partner Benjamin Su, based in Hong Kong, supported by associate Chimmy Tao, Beijing associate Jasmine Hu, and Hong Kong Foreign Legal Consultant Xiang Ao.

The team provided comprehensive guidance on export controls and economic sanctions through the expertise of Washington, D.C. partner Les Carnegie and counsel Andrew Galdes, alongside associate Elliot Hecht and Boston associate Julie Lee Choi. For regulatory matters, Washington, D.C. partner Matthew Brill ensured compliance, while tax-related issues were addressed by New York partner Jiyeon Lee-Lim and San Diego associate Ryan Brenner.

WeRide is a pioneering global leader in the autonomous driving sector, founded in 2017. The company offers a range of autonomous driving products and services from Level 2 (L2) to Level 4 (L4), effectively meeting diverse transportation needs across various applications, including mobility, logistics, and sanitation. WeRide is the only technology company globally to hold driverless permits in China, the UAE, Singapore, and the US. It conducts autonomous driving research and development, testing, and operations in over 30 cities across seven countries.

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