WeRide Inc. American depositary shares surged 21% from their initial public offering price after the Chinese self-driving automotive company raised $440.5 million in a first-time share sale and private placement.

(Reuters) -Self-driving startup WeRide raised a combined $440.5 million in its U.S. initial public offering and a private placement on Friday, the latest Chinese firm to capitalize on improving investor sentiment and easing regulatory roadblocks.

WeRide: The company sold 7.7 million American depositary shares in the offering at USD 15.50 a piece, the lower end of its targeted range of USD 15.50 to USD 18.50 per ADS.

China-based autonomous driving startup WeRide announced on Friday that it raised $440.5 million via an initial public offering in the U.S., alongside private placement.

(Reuters) -Self-driving firm WeRide [WRD.O] notched a valuation of $4.21 billion after raising $120 million in its U.S. initial public offering (IPO) on Friday, becoming the latest Chinese company to capitalize on easing regulatory hurdles to list in New York.

The number of Chinese companies that have pursued stock market flotations in the United States had dropped in the past few years, after ride-hailing giant Didi Global was forced to delist its shares following a backlash from Chinese regulators.

SELF-DRIVING car company WeRide notched a valuation of about US$4.2 billion, after raising US$120 million in its US initial public offering (IPO) on Friday (Oct 25), becoming the latest Chinese company to capitalise on easing regulatory hurdles to list in New York.