The CN, Goodyear, Kroger, Mando, Navistar, Nvidia, Sina, Traton, Union Pacific, UPS and US Xpress-backed autonomous truck producer was valued at more than $8.5bn in the IPO.

TuSimple, a US-headquartered driverless truck producer backed by a host of corporate investors, floated yesterday in a $1.35bn initial public offering on the Nasdaq Global Select Market.

The company issued approximately 27 million class A shares priced at $40.00 each while SunDream, a vehicle for Charles Chao, chairman and CEO of internet company Sina, sold nearly 6.8 million additional shares.

The price range for the offering had been set at $35 to $39 and the price gave TuSimple a market…

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Edison Fu

Edison Fu is a reporter and Asia liaison at Global Corporate Venturing.
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