Pony.ai Begins Trading on Nasdaq
Pony.ai, a global leader in autonomous driving technology, has begun trading on the Nasdaq Global Select Market (PONY) today, celebrating its IPO with the ringing of the Nasdaq opening bell. This IPO marks a significant milestone in Pony.ai's journey toward achieving global leadership in the large-scale commercialization and mass production of autonomous vehicles.
The offering raised approximately $260 million by providing 20 million American Depositary Shares (ADS) at a price of $13.00 each. If the overallotment option of 3 million ADS is included, this figure rises to $299 million. Additionally, strategic third-party investors including JSC International Investment Fund SPC, Guangzhou Nansha Chicheng Future Industry Investment Fund, and Kechuangzhihang Holdings Limited participated in simultaneous private placements totaling $153.4 million. When combined, these proceeds will accelerate Pony.ai's mission to deliver safe, sustainable, and accessible autonomous mobility solutions globally.
Dr. James Peng, co-founder and CEO of Pony.ai, stated: "Since our founding in 2016, Pony.ai has become a global leader in the large-scale commercialization and mass production of autonomous mobility. This success would not have been possible without the unwavering support of our users, partners, shareholders, and employees. Over the past eight years, we have guided the industry through cycles and made remarkable breakthroughs in autonomous driving technologies. Now, as we reach this critical milestone in our commercialization journey, we look forward to providing safer, more efficient, and accessible mobility solutions for society. Today marks the beginning of a transformative chapter for Pony.ai and the dawn of a new era for autonomous mobility."
Dr. Tiancheng Lou, co-founder and CTO of Pony.ai, commented: "Our first trading day on Nasdaq is just the beginning of the profound ways autonomous driving technology will change the world. The journey to revolutionize mobility is akin to climbing Mount Everest – it requires perseverance, patience, and a commitment to a long-term vision. Through continuous innovation, we aim to achieve a technological transformation that will enable autonomous driving to surpass human drivers. Today’s landmark Nasdaq listing strengthens our mission to redefine the driving experience, offering unprecedented levels of safety, efficiency, and comfort. We are pleased to see our vision take root globally and continue shaping the future of AI-powered mobility."
The offering was managed by leading global financial institutions including Goldman Sachs (Asia) L.L.C., Merrill Lynch (Asia Pacific) Limited, Deutsche Bank AG, Hong Kong Branch, Huatai Securities (USA), Inc., and Tiger Brokers (NZ).
Shares are currently trading under the symbol "PONY."