Pony AI is set to raise HK$6.7 billion ($863 million) through its Hong Kong listing, pricing shares at HK$139 each. The autonomous driving company is selling 42 million shares and plans to fully exercise an option for an additional 6.3 million shares. Trading on the Hong Kong Stock Exchange is scheduled to begin on November 6.
The offering price represents a discount of just over 4% compared to its previous close on the Nasdaq. Pony AI had set a maximum price of HK$180 per share for the offering. The company intends to use the proceeds for large-scale commercialisation of its Level 4 autonomous driving technology in robotaxi and robotruck services, as well as for research and development. Pony AI aims to achieve profitability in 2028 or 2029.
Pony AI, co-headquartered in Silicon Valley and Guangzhou, is focused on developing safe and reliable autonomous driving technology. The company operates Robotaxi, Robotruck, and Personally Owned Vehicle (POV) business units. Pony AI has been granted Shenzhen's first citywide permit for fully driverless commercial robotaxi operations.
