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Pony AI's Nasdaq IPO Raises $413.4M, Shares Surge 19% to $5.4B Valuation
Nov 27, 2024, 03:30 PM
Pony AI, a Chinese autonomous driving technology company, has successfully completed its initial public offering (IPO) on the Nasdaq, raising $260 million by pricing its shares at $13 each, the top of the expected range. This pricing reflects strong investor interest in autonomous-driving technology and Chinese listings in New York. The company's shares surged by 19% in their trading debut, valuing Pony AI at nearly $5.4 billion. The IPO included a concurrent private placement, bringing the total funds raised to $413.4 million. Pony AI, which has logged nearly 24.8 million miles of autonomous driving, aims to expand its operations globally, with a significant presence in the U.S. market.
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