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Following its Nasdaq launch, Pony AI’s valuation reaches $5.25 billion

Pony AI, a Chinese firm that develops autonomous driving technology, began trading on the Nasdaq on Wednesday for $15 per share, garnering a $5.25 billion valuation. Compared to Pony’s offering price of $13, which was at the upper end of its anticipated range, that opening price is 15% higher.

Pony raised $260 million by selling 20 million American depositary shares at its IPO. In private placements, strategic investors also purchased Pony AI shares for about $153 million. Goldman Sachs, BofA Securities, Deutsche Bank, Huatai Securities, and Tiger Brokers, the deal’s underwriters, are able to purchase an extra 3 million shares.

The entire amount of money made by Pony might reach $452.4 million. 

After a de facto prohibition from Beijing, Pony is the most recent Chinese internet startup to brave the U.S. public market, following WeRide and Zeekr. Pony’s performance will be closely watched by investors, especially as China and the United States compete to control developments in autonomous vehicle technology.

The opening price and revised valuation of Pony AI have been reflected in this story.

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News Source: https://shorturl.at/JGMVM

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