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Pony AI Inc. (PONY) announced the launch of its initial public offering in Hong Kong of 41,955,700 Class A ordinary shares, according to a press release statement. The autonomous driving technology company plans to list its shares on the Main Board of The Stock Exchange of Hong Kong Limited under stock code "2026."
The Hong Kong IPO comprises a Hong Kong public offering of 4,195,600 Class A ordinary shares and an international offering of 37,760,100 Class A ordinary shares, both commencing October 28, 2025. The company’s American depositary shares will continue trading on the Nasdaq Global Select Market.
The offering price for the Hong Kong public offering will not exceed HK$180.0 per Class A ordinary share, equivalent to US$23.17 per share. The international offering price may be set higher than or equal to this maximum price, with final pricing expected around November 3, 2025.
Cornerstone investors have committed to subscribe for shares totaling US$120.0 million at the international offering price. The company may issue additional shares through over-allotment options of up to 15% of the initial offering size.
Pony AI plans to use proceeds for commercializing its Level 4 autonomous driving technology in key markets, research and development, and working capital. The Beijing-based company, founded in 2016, operates across China, Europe, East Asia, and the Middle East.
Goldman Sachs, BofA Securities, Deutsche Bank, Huatai, and Macquarie serve as joint global coordinators for the offering. The Hong Kong IPO is subject to market conditions with no assurance of completion timing or final terms.