Pony AI (PONY) placed its bets on the lucky number 13 – pricing its IPO at $13.00 – the high end of its range – and selling 20.0 million American Depositary Shares – the size of its recently upsized IPO – to raise $260 million on Tuesday night, Nov. 26, 2024. The ADS – traded under the symbol PONY – opened at $15.00 – up $2.00 for a gain of 15.38 percent at the first tick – at 11:08 a.m. EST today – Wednesday, Nov. 27, 2024 – on the NASDAQ on volume of 983,588 shares.
Pony AI, a Chinese self-driving car technology company, went public at a market cap of about $4.55 billion, based on the $13.00 IPO price.
The Guangzhou, China-based driverless car tech company said it raised another $153.4 million in a concurrent private placement of Class A ordinary shares sold to certain strategic third-party investors.
Goldman Sachs (Asia), BofA Securities, Deutsche Bank AG, Hong Kong, Huatai Securities and Tiger Brokers acted as the joint book-runners.
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