Pony.ai commenced trading on the Nasdaq Global Select Market under the ticker "PONY," following its IPO, in which the company and its co-founders celebrated by ringing the Nasdaq opening bell, as reported in a press release on Nov. 27.
The IPO is considered a pivotal step toward Pony.ai's ambition for widespread commercialization and mass production of autonomous vehicles, offering 20 million American Depository Shares (ADS) at $13.00 each, thereby raising about $260 million.
Additionally, the potential exercise of a 3 million ADS overallotment option could increase the proceeds to $299 million. In addition, strategic third-party investors, including JSC International Investment Fund SPC, Guangzhou Nansha Chicheng Future Industry Investment Fund and Kechuangzhihang Holdings Ltd., participated in concurrent private placements totaling $153.4 million. Combined, these proceeds will accelerate Pony.ai’s mission to deliver safe, sustainable and accessible autonomous mobility solutions worldwide.
The IPO attracted support from top global financial institutions, such as Goldman Sachs (Asia) LLC, Merrill Lynch (Asia-Pacific) Ltd., Deutsche Bank AG, Hong Kong Branch, Huatai Securities (USA) Inc. and Tiger Brokers (NZ), showcasing significant investor confidence in Pony.ai's vision and market potential. The successful listing strengthens Pony.ai's resolve to redefine the driving experience with enhanced safety, efficiency and convenience through AI-powered mobility solutions.
