Wayve, a company specializing in autonomous driving software, has filed to sell shares on the London Stock Exchange’s new Private Securities Market, marking it as the first major company to utilize this innovative system. This market has received PISCES approval from the Financial Conduct Authority, establishing a regulatory framework for intermittent trading of private company shares. Wayve’s approach leverages embodied AI to provide scalable autonomy solutions that can be applied across different vehicle types and locations.
Wayve: Wayve Technologies Ltd is a British autonomous driving technology company that develops self-driving vehicle systems using end-to-end deep learning and embodied AI. It creates a mapless, vehicle-agnostic AI Driver platform designed to scale across different vehicles, geographies, and levels of automation, including partnerships for autonomous rides. Wayve’s share sale filing on the London Stock Exchange’s Private Securities Market positions it as the first major company to test this new private trading system.
London Stock Exchange: The London Stock Exchange is a major UK operator of public equity markets and has launched the Private Securities Market (PSM) as a secondary venue for private companies. The PSM operates under the PISCES framework to enable intermittent liquidity auctions for private shares using existing exchange infrastructure and proportionate disclosure rules. It is supporting Wayve’s filing as an early test of this novel system for private company liquidity.
Company Approach: Wayve focuses on embodied AI to deliver scalable autonomy solutions applicable to any vehicle type and location.
Market Framework: The London Stock Exchange’s Private Securities Market is the first venue to receive PISCES approval from the Financial Conduct Authority, creating a new regulatory pathway for intermittent trading of private company shares.
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