WeRide reportedly eyeing confidential Hong Kong IPO

US-listed Chinese self-driving vehicle firm WeRide has reportedly applied for a confidential listing in Hong Kong, after the new measure was rolled out to attract technology firms last month.

Boosted by the news, WeRide's Nasdaq-traded shares rose more than 6 percent during the pre-market session to US$7.96 (HK$62) at 4.40pm in Hong Kong.

The secret listing was reported by mainland media Jiemian News, citing sources. WeRide was said to have declined to comment on the report.

Hong Kong officially began allowing firms of prospective specialist technologies and biotech to make a confidential filing, citing that the disclosures in their listing plans may pose heightened and disproportionate risks.

Established in 2017, WeRide develops driverless technology, offering products that include Robotaxis, robobuses, trucks, and sweepers. The company debuted on Nasdaq in October 2024 as the world’s first universal autonomous driving and Robotaxi stock, but its shares have since fallen 54 percent.

STAFF REPORTER