Reported about 8 hours ago
Pony AI Inc. successfully raised HK$6.71 billion ($863 million) during its Hong Kong listing, pricing shares at HK$139 each. The firm sold 42 million shares and took the option to add 6.3 million more, reflecting a slight discount from its Nasdaq closing price. With plans for large-scale commercialization of its autonomous driving technology, Pony AI aims to achieve profitability by 2028 or 2029. The listing coincides with similar ambitions from rival WeRide as both companies target the growing driverless vehicle market in China.
Source: YAHOO