Due to the need for more time to update the documents, Wisdom Education International Holdings Co. (WRD.US) postponed its IPO in the United States.

According to reports, Chinese self-driving technology company WeRide (WRD.US) has postponed its initial public offering (IPO) plan on Nasdaq to allow more time to submit documents to regulatory agencies. In response, WeRide stated that the time required to update the trading documents is longer than expected, and they are actively working on all the necessary documents for the transaction. It was reported that WeRide submitted its IPO application earlier this month, with a valuation of up to $5 billion. WeRide plans to issue 6.5 million shares at a price range of $15.50 to $18.50 per share, raising $109.7 million. It is known that WeRide has completed 10 rounds of financing, with investors including He Xiaopeng, Guangzhou Automobile Group, NVIDIA Corporation, Bosch, IDG Capital, Qiming Venture Partners, and Foundation Capital. The total amount of public financing exceeds $1.09 billion, with the final D+ round of financing completed in 2022, valuing the company at $5.1 billion. In addition, according to regulations of Chinese regulatory agencies, WeRide is required to list within one year after obtaining approval for its IPO to the US, which means by August 25th of this year.