Pony.ai IPO countdown: Pricing set at $13, at the top of the range

On November 27, Pony.ai, a leading autonomous driving company, priced its IPO at $13 per ADS, and is expected to be listed on the Nasdaq Stock Exchange tonight (stock code: PONY). This pricing is at the upper limit of the price range of $11-$13.

After the issuance scale was expanded by more than 30% earlier, Pony.ai plans to issue 20 million ADSs (American Depositary Shares), and 23 million ADSs if the underwriters exercise their over-allotment option. In addition, Pony.ai raised about $153.4 million through a concurrent private placement of common stock. The total amount raised in this IPO may be about $452 million.

Pony.ai has completed seven rounds of financing in the primary market, with a cumulative amount of over $1.3 billion. Pony.ai launched China's first Robotaxi service in 2018, and its technology and scale are at the forefront of the industry. It is one of the few companies that have achieved commercial operations, and currently provides Robotaxi fee services in Beijing, Shanghai, Guangzhou, and Shenzhen.