** China-based robotaxi firm Pony AI jumps over 15% to $15 in market debut
** American depositary shares open at $15 vs IPO price of $13, giving the company a valuation of $5.25 billion
** Pony AI sold 20 million ADS in the IPO priced at $13 each to raise $260 million
** Company also raised an additional $153.4 million in concurrent private placement
** Toyota Motor-backed company's valuation has come down from $8.5 billion two years ago
** Pony AI remains unprofitable as it invests in expanding operations
(Reporting by Pritam Biswas in Bengaluru)
((Pritam.Biswas@thomsonreuters.com))
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Comments