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

Market IntelWednesday, Nov 27, 2024 6:40 am ET

1min read

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.

Disclaimer: the above is a summary showing certain market information. AInvest is not responsible for any data errors, omissions or other information that may be displayed incorrectly as the data is derived from a third party source. Communications displaying market prices, data and other information available in this post are meant for informational purposes only and are not intended as an offer or solicitation for the purchase or sale of any security. Please do your own research when investing. All investments involve risk and the past performance of a security, or financial product does not guarantee future results or returns. Keep in mind that while diversification may help spread risk, it does not assure a profit, or protect against loss in a down market.