Pony AI Inc., a Chinese autonomous driving technology company, has successfully completed its US initial public offering, raising $260 million. The company priced its American depositary shares at $13 each, which is the highest end of the range that was marketed.
The strong pricing reflects the high level of interest from investors in autonomous driving technology and the appeal of Chinese listings on the New York Stock Exchange. Pony AI now has an implied market valuation of approximately $4.5 billion, based on the number of shares outstanding as disclosed in regulatory filings.
Trading of the shares is scheduled to begin on Wednesday, which is a significant event in the trend of Chinese tech companies entering the US market.