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Pony AI set for Nasdaq debut at $4.55B valuation

In Brief Chinese autonomous driving technology company Pony AI will start trading on the Nasdaq on Wednesday at an offering price of 13pershare,thehigherendofitsexpectedrange.Withaninitialpublicofferingof20millionAmericandepositaryshares,Ponystandstogainatleast13 per share, the higher end of its expected range.With an initial public offering of 20 million American depositary shares, Pony stands to gain at least 260 million at a 4.55billionfromitsdebut.Theproceedswilllikelyexceedthat.Strategicinvestorsareexpectedtobuyaround4.55 billion from its debut. The proceeds will likely exceed that. Strategic investors are expected to buy around 153 million worth of Pony AI shares in private placements, and the underwriters — Goldman ...