The $8.6 billion autonomous driving startup is set to become one of the biggest names to test London's new private share auction system
Wayve Technologies, the UK autonomous driving AI company valued at $8.6 billion, has filed to sell shares on the London Stock Exchange’s Private Securities Market. The move positions the startup as one of the most prominent participants yet in a venue designed to give private companies a way to offer liquidity without going through a full public listing.
The share auction is scheduled for July 8, 2026, pending shareholder approval. Wayve is backed by Uber, Mercedes-Benz, and Nvidia.
What the Private Securities Market actually is #
The PSM operates under the UK’s PISCES framework, which stands for Private Intermittent Securities and Capital Exchange System. It’s a regulated venue where private company shares can be auctioned off at scheduled intervals, giving employees and early investors a chance to cash out without the company needing to list publicly.
The Financial Conduct Authority gave the PSM its approval on August 26, 2025. LSEG’s PSM completed its first transaction earlier this year.
Wayve’s trajectory and why it matters #
Wayve builds AI-powered autonomous driving technology. Uber wants autonomous vehicles on its platform. Mercedes-Benz wants them in its lineup. Nvidia wants to sell the chips that power them. All three are backers of Wayve, which achieved its $8.6 billion valuation during a funding round in February 2026.
What this means for investors #
The “intermittent” part of PISCES is key. These aren’t shares you can trade continuously on an exchange. They’re auctioned at specific windows, which means investors need to be comfortable with limited exit opportunities compared to publicly listed stocks.
Wayve’s entry into the PSM could set a precedent for other late-stage private companies in the UK seeking alternative liquidity options outside of traditional IPOs or US listings.
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