Pony.ai plans to issue 15 million American Depositary Shares (ADS)

On November 14, 2024, a red herring prospectus was submitted to the U.S. Securities and Exchange Commission (SEC). Pony.ai plans to issue 15 million American Depositary Shares (ADS) in this IPO, with an issue range of US$11 to US$13 per ADS, and the underwriters have an over-allotment right of 2.25 million ADS. Among them, BAIC Group and Singapore transportation operator ComfortDelGro will participate in Pony.ai's IPO as cornerstone investors-the former intends to subscribe for up to US$70.35 million worth of ADS, and the latter intends to subscribe for up to US$4.5 million worth of ADS. In addition, Pony.ai will also simultaneously conduct a strategic private placement of approximately US$153.4 million, and multiple investors including GAC Capital, a wholly-owned subsidiary of GAC Group, will participate in the private placement. Through this IPO issuance and strategic private placement, Pony.ai's IPO fundraising scale can reach up to approximately US$378 million (approximately RMB 2.747 billion).