BRIEF: Uber plans investments in Hong Kong IPOs by Pony AI, WeRide

Uber Technologies (UBER.US) plans to invest in upcoming Hong Kong IPOs by Pony AI Inc. (PONY.US) and WeRide Inc. (WRD.US), two of China’s leading robotaxi operators, Bloomberg reported on Tuesday. The U.S.-based ride-sharing giant could invest about $100 million in Pony AI’s listing, the report said, citing unnamed sources. No amount was given for a potential WeRide investment.

Pony AI is looking to raise nearly $1 billion in its Hong Kong listing, while WeRide is targeting about $400 million. Both companies are set to make their Hong Kong trading debuts on Nov. 6.

Pony AI and WeRide made IPOs in the U.S. about a year ago. Their latest plans come as a growing number of New York-listed Chinese companies make second listings in Hong Kong as a hedge against U.S.-China tensions. Uber previously invested in both Pony AI’s and WeRide’s U.S. IPOs, and has partnered with both companies to launch robotaxi services in various parts of the world.

Pony AI’s U.S.-listed shares rose 11% on Tuesday, and are up about 68% from their IPO price. WeRide’s shares also rose 5% on Tuesday, but are down about 24% from U.S. listing price.

By Doug Young

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