Pony.AI and WeRide have received a key approval from Chinese securities regulators that clears the way for the for the autonomous vehicle technology companies to pursue secondary listings on the Stock Exchange of Hong Kong.
The Chinese companies, both of which are based in Guangzhou, are already publicly traded in the U.S. on the Nasdaq Exchange. WeRide made its public debut in October 2024, and Pony.AI followed a month later.
Now, Pony.ai and WeRide are each aiming to sell shares on the Hong Kong Exchange, following a trend of Chinese companies that have pursued a secondary listing.
Pony.ai and WeRide said the China Securities Regulatory Commission had issued a notice approving their proposed listing, according to regulatory filings reported to the U.S. Securities and Exchange Commission. The CSRC has the final authority to determine whether a company can go public overseas.
Both companies appear ready to proceed with their respective proposed global offering and listing. Reuters reported WeRide has hired Morgan Stanley and China International Capital Corp to work on a dual primary listing in Hong Kong, citing anonymous sources. WeRide plans to complete the listing in December.
