Pony.AI Upsizes Nasdaq IPO

MT Newswires Live11:06

Pony.AI upsized its initial public offering on the Nasdaq and is now seeking to raise up to $260 million from the deal.

The Chinese robotaxi company is offering up to 20,000,000 American depositary shares expected to be priced between $11 and $13 per American depositary share, according to a Wednesday filing with the US Securities and Exchange Commission.

Pony.AI could sell up to 23,000,000 shares should the underwriters exercise the overallotment option in full, the filing said

Pony AI earlier planned to sell 15,000,000 ADSs, according to a Reuters report Thursday.

Pony.AI's IPO is the second-largest US public offering by a Chinese company in 2024 after Zeekr, which raised $441.2 million, the report said.

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