Pony.ai (PONY) Sets IPO at $13 per ADS to Expand Global Autonomous Driving Solutions

5 days ago

Pony.ai (PONY, Financial), a leader in autonomous driving commercialization, has announced its initial public offering (IPO) of 20 million American Depositary Shares (ADS), with each ADS representing one Class A ordinary share of the company. The IPO is priced at $13 per ADS, and the stock is set to be listed on November 27.

This IPO marks a significant step for Pony.ai as it aims to expand its global reach in autonomous driving solutions, with operations spanning China, Europe, East Asia, and the Middle East. The underwriters have been granted a 30-day option to purchase up to an additional 3,000,000 ADS to cover over-allotments.

If the underwriters do not exercise this option, the IPO and accompanying private placements are expected to generate approximately $413.4 million in total proceeds. Should the underwriters fully exercise their option, the total proceeds could increase to around $452.4 million. These funds will provide strong financial support for Pony.ai's accelerated commercialization of autonomous driving technology worldwide.

Disclosures

I/We may personally own shares in some of the companies mentioned above. However, those positions are not material to either the company or to my/our portfolios.

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