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China Approves US Listing for Self-Driving Firm in Easing Sign

Apr 24, 2024 - bloomberg.com
China has approved a US listing for autonomous driving startup Pony.ai, signaling a potential rise in Chinese tech initial public offerings in New York after a hiatus of over two years. Pony.ai intends to sell up to 98 million shares and list on either the Nasdaq or the New York Stock Exchange, as per an announcement on the China Securities Regulatory Commission’s website.

This move could mark a significant shift in Chinese tech companies' approach towards international listings, following a period of restraint. The decision by the China Securities Regulatory Commission indicates a possible easing of restrictions and could pave the way for more Chinese tech firms to seek listings on US exchanges.

Key takeaways:

  • China has approved a US listing by autonomous driving startup Pony.ai.
  • This could potentially lead to an increase in Chinese tech initial public offerings in New York, after a hiatus of over two years.
  • Pony.ai plans to sell up to 98 million shares.
  • The company plans to list on the Nasdaq or the New York Stock Exchange, as per an announcement on the China Securities Regulatory Commission’s website.
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