BRIEF: WeRide, Pony AI approved by CSRC to list in Hong Kong
U.S.-listed Robotaxi operators WeRide Inc. (WRD.US) and Pony AI Inc. (PONY.US) were cleared by China’s securities regulator to make second listings in Hong Kong, according to announcements on the China Securities Regulatory Commission’s (CSRC) website posted on Tuesday.
The two companies each plan to sell up to 102 million ordinary shares in their Hong Kong IPOs, according to separate registration statements on the CSRC website (WeRide registration; Pony AI registration).
Both WeRide and Pony AI listed on the Nasdaq about a year ago. Since then, WeRide’s shares have lost about a third of their value, while Pony AI has risen 62%.
The second listings in Hong Kong would make the pair the latest Chinese companies to seek such dual listings as a hedge against an increasingly hostile environment towards them on Wall Street. Last month, the Nasdaq proposed new rules that would require all new Chinese listings to raise at least $25 million and maintain public floats worth at least $5 million.
By Doug Young
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