Latham Advises on WeRide’s US IPO

Latham & Watkins has advised Morgan Stanley, J.P. Morgan, and CICC on WeRide’s initial public offering (IPO) on the Nasdaq Stock Market and the concurrent private placements, with combined gross proceeds of approximately US$440.5 million. The public offering consists of 7,742,400 American Depositary Shares (ADS) at a value of US$15.50 per share.

WeRide is a global leader and a first mover in the autonomous driving industry. It is the only technology company worldwide simultaneously holding autonomous driving licenses in China, the UAE, and Singapore. Its product portfolio has application scenarios spanning smart mobility, smart logistics, and smart sanitation.

The Latham team was led by Hong Kong corporate partner Benjamin Su, with associate Chimmy Tao, Beijing associate Jasmine Hu and Hong Kong Foreign Legal Consultant Xiang Ao. Advice was also provided on export controls and economic sanctions matters by Washington, D.C. partner Les Carnegie and counsel Andrew Galdes, with associate Elliot Hecht and Boston associate Julie Lee Choi; on regulatory matters by Washington, D.C. partner Matthew Brill; and on tax matters by New York partner Jiyeon Lee-Lim with San Diego associate Ryan Brenner.