HONG KONG — Chinese autonomous driving startup Pony AI is set to price its highly anticipated Hong Kong initial public offering (IPO) at HK$139 per share, according to two people familiar with the transaction.
The listing, expected to generate around HK$6.7 billion ($862 million), underscores Hong Kong’s growing appeal as a hub for technology and artificial intelligence investments. Pony AI plans to fully exercise its upsize option, issuing an additional 6.3 million shares to meet investor demand, the sources said.
The pricing represents a 4.2% discount to Pony AI’s Nasdaq close of $18.68 on Friday. The company’s shares will begin trading on the Hong Kong Stock Exchange on November 6, a move analysts say could boost its global visibility and investor base.
According to its prospectus, the firm offered about 42 million shares, initially capped at a maximum price of HK$180 per share. The revised figure signals strong demand yet maintains an attractive valuation amid volatile tech markets.
Bloomberg first reported the pricing details Sunday evening. Pony AI has yet to respond to requests for comment regarding its final pricing or future expansion plans.
The company’s dual listing positions it among a small group of Chinese autonomous vehicle developers tapping international capital markets for growth. Analysts suggest the proceeds could fund advanced self-driving technologies, infrastructure development, and potential partnerships with electric vehicle manufacturers.
At current exchange rates, $1 equals 7.7675 Hong Kong dollars.
