Hyperdrive
Chinese Driverless-Tech Firm Pony AI Said to Raise $260 Million in US IPO
- Guangzhou-headquartered company prices shares at $13 each
- Company is set to list American depositary shares Wednesday
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Pony AI Inc. raised $260 million after pricing its US initial public offering at the top of the marketed range, signaling strong investor interest for autonomous-driving technology and Chinese listings in New York.
The American depositary shares were priced at $13 each, Guangzhou-headquartered Pony AI said in a statement Wednesday, confirming an earlier Bloomberg News report. At the IPO price, the company has an implied market value of about $4.5 billion, based on the number of shares outstanding disclosed in a filing. Trading is due to start Wednesday.