Autonomous driving company Pony.ai expands IPO size, plans to list on Nasdaq

On November 20, the autonomous driving company Pony.ai updated its prospectus submitted to the U.S. Securities and Exchange Commission (SEC), planning to list on the Nasdaq with the stock code "PONY". In the updated prospectus, the company expanded the size of the IPO, increasing the originally planned 15 million ADSs to 20 million ADSs, an increase of 33.3%. The issue price range is set between US$11 and US$13 per ADS. If the underwriters exercise the over-allotment option, the issue size will be further expanded to 23 million ADSs. Previously, BAIC and Singapore transportation operator ComfortDelGro have expressed their intention to subscribe for ADSs. At the same time, four investors including GAC subscribed for US$153.4 million of common stock through a private placement, allowing Pony.ai to raise up to US$452 million through this IPO.