Autonomous driving company Pony.ai launches IPO, with BAIC, GAC and others participating in subscription

On November 14, autonomous driving technology company Pony.ai submitted an IPO application to the U.S. Securities and Exchange Commission, planning to list on the Nasdaq with the stock code "PONY". The IPO is expected to issue 15 million ADSs, with each ADS priced between US$11 and US$13. BAIC Group and Singapore transportation operator ComfortDelGro have both expressed their willingness to subscribe to Pony.ai's ADSs, with BAIC Group subscribing up to US$70.35 million and ComfortDelGro subscribing up to US$4.5 million. GAC Capital, a wholly-owned subsidiary of GAC Group, will also subscribe for a total of approximately US$153.4 million of Class A common stock through a strategic private placement.