Pony AI ADRs Rise 15% After IPO

Dow Jones11-28

By Sabela Ojea

American depository receipts of Chinese autonomous-driving company Pony AI climbed on their first day of trading on the Nasdaq Global Select Market.

The ADRs were up 15%, to $15, in Wednesday midday trading.

The manufacturer of sensors and software for self-driving vehicles offered 20 million American depository shares priced at $13 an ADS through its initial public offering, raising $260 million.

Strategic third-party investors, such as JSC International Investment Fund and Kechuangzhihang Holdings, took part in concurrent private placements totaling $153.4 million, the company said.

Write to Sabela Ojea at sabela.ojea@wsj.com

(END) Dow Jones Newswires

November 27, 2024 12:06 ET (17:06 GMT)

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