Chinese language autonomous driving know-how firm Pony AI will begin buying and selling on the Nasdaq on Wednesday at an providing worth of $13 per share, the upper finish of its anticipated vary.
With an preliminary public providing of 20 million American depositary shares, Pony stands to realize at the least $260 million at a $4.55 billion from its debut.
The proceeds will probably exceed that. Strategic traders are anticipated to purchase round $153 million price of Pony AI shares in non-public placements, and the underwriters — Goldman Sachs, BofA Securities, Deutsche Financial institution, Huatai Securities, and Tiger Brokers — have the choice to purchase a further 3 million shares.
All advised, Pony’s whole proceeds may climb as much as $452.4 million.
Following WeRide and Zeekr, Pony is the newest Chinese language tech firm to courageous the U.S. public market after a de facto ban from Beijing. Buyers might be conserving an in depth eye on Pony’s efficiency, significantly as each the U.S. and China search to dominate developments in autonomous car know-how.
