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What will Pony AI's market cap be at the end of 2024?
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Pony AI's Nasdaq Debut: Shares Surge 19% After $260M IPO, Valuing Firm at $4.55B
Nov 27, 2024, 02:00 PM
Pony AI, a Chinese autonomous driving technology company, has successfully completed its initial public offering (IPO) in the United States, raising $260 million by pricing its 20 million American Depositary Shares (ADS) at $13 each, at the top of the expected range. This move valued the firm at $4.55 billion upon its Nasdaq debut. The IPO, along with concurrent private placements, brought in a total of $413.4 million. Pony AI's shares surged by 19% on their first day of trading, indicating strong investor interest in both autonomous driving technology and Chinese listings in New York. The IPO serves as a gauge for U.S. investor appetite for Chinese firms amidst geopolitical tensions.
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