Pony.ai and WeRide Approved for Hong Kong Listing

Autonomous Vehicle Firms Pony.ai and WeRide Gain Hong Kong Listing Approval

Pony.ai and WeRide, prominent developers of autonomous vehicle technology, have been granted crucial authorization by Chinese securities regulators.

This approval facilitates their pursuit of secondary listings on the Stock Exchange of Hong Kong.

Existing U.S. Listings

Both companies are currently listed on the Nasdaq Exchange in the United States.

WeRide initiated its public trading in October 2024, with Pony.ai following suit the subsequent month.

Hong Kong Expansion

The firms are now preparing to offer shares on the Hong Kong Exchange, aligning with a growing pattern among Chinese companies seeking dual listings.

This strategy allows them to tap into a broader investor base and increase liquidity.

Regulatory Confirmation

According to filings with the U.S. Securities and Exchange Commission, both Pony.ai and WeRide have received notification from the China Securities Regulatory Commission (CSRC) regarding the approval of their proposed listings.

The CSRC holds ultimate authority over a company’s ability to become publicly traded internationally.

Listing Plans and Advisors

Both entities are positioned to move forward with their planned global offerings and listings.

Sources cited by Reuters indicate that WeRide has engaged Morgan Stanley and China International Capital Corp. to manage a dual primary listing in Hong Kong.

WeRide anticipates finalizing this listing process by December.

Key Takeaways

• Pony.ai and WeRide received approval for Hong Kong listings.
• Both companies are already publicly traded on the Nasdaq.
• The CSRC’s approval is a critical step in the listing process.
• WeRide aims to complete its listing in December.