Chinese autonomous driving firms Pony Ai and WeRide slide in Hong Kong trading debut

Pony Ai and WeRide stocks dropped on Thursday as the Chinese autonomous driving developers started trading in Hong Kong, after raising nearly $1.2 billion in share offerings.

Pony Ai’s share price slid nearly 11% in early trade after the company raised about $863 million. WeRide opened down about 8% after raising about $308 million.

Hong Kong’s benchmark Hang Seng Index was up 0.5%.