Pony AI (PONY Proposed) may cruise out on the IPO highway during this short week – just ahead of the Thanksgiving holiday. (The U.S. stock market will be closed on Thursday, Nov. 28, 2024, for Thanksgiving.) Pony AI’s tentative IPO pricing date was delayed until this week – after the Chinese self-driving car technology company dramatically upsized its IPO last week to $240 million – up from $180 million under the original terms. Pony AI is offering 20.0 million American Depositary Shares (ADS) at a price range of $11.00 to $13.00 to raise $240 million, if priced at the $12.00 mid-point of its range.
Goldman Sachs (Asia), BofA Securities, Deutsche Bank Securities, Huatai Securities and Tiger Global are the joint book-runners.
Wall Street has been abuzz over a Bloomberg story that Uber may invest in Pony AI’s IPO.
Pony AI, based in Guangzhou, China, is developing autonomous driving technology systems for robotaxis and robobuses, according to the prospectus. Pony AI Inc. runs a fleet of more than 250 robotaxis that are licensed to operate without drivers in four Tier-1 cities in China. Pony AI also runs 190 robotrucks, according to the prospectus. Pony AI also has permits to test its robotaxis outside China.
The rest of this short holiday week’s IPO Calendar consists of a carry-over deal – Brazil Potash (GRO Proposed) on a day-to-day basis – as well as six tiny IPOs with pricing dates – and up to another four micro-sized IPOs that may be priced sometime this week, pending regulators’ sign-offs.
(For more information about these companies, please check the IPO Calendar and the individual IPO Profiles found on the IPOScoop.com website.)
Note: Never trade on proposed symbols. They have been known to change and you might buy something on the OTC Bulletin Board.
To see what time the NASDAQ IPOs are expected to trade, please log in to: NASDAQTrader.com then scroll down to IPO Message.
Disclosure: Nobody on the IPOScoop.com staff has a position in any stocks mentioned above, nor do they trade or invest in IPOs. The IPOScoop.com staff does not issue advice, recommendations or opinions.
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