Webus International IPO opens flat in NASDAQ debut

Investing.com -- Webus International Limited (NASDAQ: WETO), a leading provider of AI-driven mobility solutions, made its debut on the Nasdaq Capital Market today. The company, trading under the ticker symbol "WETO", opened at $4.10 per share after pricing 2,000,000 ordinary shares at $4 each.

The Initial Public Offering (IPO) is being conducted on a firm commitment basis. Alexander Capital, L.P. is acting as the sole bookrunner and co-lead underwriter. Network 1 Financial Securities, Inc. and R.F. Lafferty & Co., Inc. are also participating as co-lead underwriter and co-managing underwriter, respectively.

In addition to the IPO, Webus has granted the underwriters an option to buy up to an additional 300,000 ordinary shares at the offering price. This over-allotment option, available for 45 days, represents 15% of the ordinary shares sold in the IPO.

Webus International is known for its premium, customizable chauffeur services worldwide. The company operates an innovative "Mobility-as-a-Service" (MaaS) model, offering personalized transportation experiences with an extensive fleet of luxury vehicles and professional chauffeurs worldwide.

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