Pony AI Inc (NASDAQ: PONY) saw its shares plummet 5.19% in early trading on Wednesday, following the company's announcement of its Hong Kong IPO pricing. The autonomous driving technology firm set its final public offer price at HK$139.00 per share for its listing on the Stock Exchange of Hong Kong, scheduled to commence on November 6, 2025.
The sharp decline in Pony AI's stock price suggests that investors may have been disappointed with the IPO pricing or concerned about the company's valuation. The offering comprises 48,249,000 Class A Ordinary Shares, which will trade under the stock code 2026 in board lots of 100 shares.
Despite the negative market reaction to the IPO news, Pony AI recently announced a promising partnership with Stellantis NV to develop level 4 autonomous driving vans. The collaboration aims to begin initial testing of the autonomous fleet in Luxembourg this year, with plans to expand across Europe in 2026. However, this positive development appears to have been overshadowed by the market's response to the Hong Kong listing details.
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