Pony AI Plans 15M ADS IPO

Dow Jones11-15 04:38

By Stephen Nakrosis

Pony AI said it was planning to offer 15 million American depositary shares in its upcoming initial public offering.

The company said each ADS would represent one share of common stock, and is expected to price between $11 and $13 in the IPO.

The autonomous mobility company said its fleet of over 250 robotaxis can be summoned via app, and operate in a number of cities in China. The company also operates a fleet of robotrucks, and is working with other companies to develop autonomous vehicles, it said.

For the year ended Dec. 31, 2023, the company reported revenue of $71.8 million. In the prior year, the company had revenue of $68.3 million.

Toyota Motor is listed among the company's principal shareholders.

Pony AI said it applied to list on the Nasdaq Global Select Market under the symbol PONY.

Write to Stephen Nakrosis at stephen.nakrosis@wsj.com

(END) Dow Jones Newswires

November 14, 2024 15:38 ET (20:38 GMT)

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