In this photo illustration, a WeRide logo of Chinese robotaxi firm is seen on a smartphone and a pc screen.
Getty Images
Self-driving technology company WeRide delayed its plan for an initial public offering in the U.S., citing its need for more time to complete documents.
“Updating transaction documents is currently taking longer than expected, and WeRide is working to complete the documentation necessary to move forward with the transaction,” the company said in a statement Thursday.
WeRide was expected to offer 6.5 million ADS (American depositary shares) in the range of $15.50 to $18.50. It was looking to raise up to $440 million in a U.S. listing that had been set for this week.Â
The company, which develops self-driving technology for robotaxis, minibuses as well as freight sanitation vehicles, was last valued around $5.11 billion and has raised $1.39 billion, according to…
