Skadden advised WeRide Inc., a global leader in Level 2 to Level 4 autonomous driving technology, on its Nasdaq listing on October 25, 2024. The initial public offering price was set at $15.5 per American depositary share (ADS). If the underwriters fully exercise the granted option, the Company will issue a total of 8,903,760 ADSs. The total proceeds from the public offering, combined with $320 million concurrent private placement, are expected to amount to $458.5 million, assuming the underwriters of the initial public offering fully exercise their option.
The Skadden team was led by China Practice co-head Haiping Li and partner Yilin Xu, with counsel Kenneth Chase, associates Si Shen, Charles Shi, Yangtian Li, Wei Luo, Haoran Luan and International Project Manager Matthew Ge; as well as SEC Reporting and Compliance partner Brian Breheny; National Security partners Brian Egan and Brooks Allen; Investment Management partner Kevin Hardy; Tax partner Sean Shimamoto; and Intellectual Property and Technology partner Ken Kumayama.
