Pony AI's IPO follows a trend of Chinese companies going public on the U.S. stock market, despite geopolitical tensions and potential tariffs on Chinese imports. The company, which operates a fleet of robotrucks and robotaxis in various Chinese cities, will list on the Nasdaq under the ticker "PONY".
Key takeaways:
- Pony AI, a Chinese self-driving technology company, is preparing for its initial public offering in the U.S., with plans to issue 15 million American Depository Shares at an expected price range of $11 to $13 per share.
- The company operates a fleet of 190 robotrucks and over 250 robotaxis in various Chinese cities, and can charge for robotaxi fares in all four cities it operates in.
- Based on the expected share price range, Pony could raise up to $224 million from the transaction, which is below its initial target of $425 million.
- Pony's IPO is part of a trend of Chinese companies going public on the U.S. stock market, following a multi-year ban from Beijing on offshore capital raising.