Deloitte China assists listing of Pony AI on Nasdaq

Deloitte China assisted the listing of Pony AI Inc. (Pony AI, stock ticker: PONY) on Nasdaq on 27 November 2024. This is the largest US public offering for Chinese autonomous driving company in 2024.

Pony AI offered 20,000,000 American Depository Shares (ADS) with each representing an ordinary share. The offer price is USD13 for each ADS with public offering gross proceeds of USD260.0 million. At the same time, four strategic third-party investors, including Guangzhou Automobile Group, have agreed to purchase Pony AI’s Class A ordinary shares through concurrent private placements that worth approximately USD153.4 million, taking the total funds raised in this offering to USD413.4 million.

Pony AI’s listing ceremony in Nasdaq

James Peng, Founder and CEO of Pony AI, and Tiancheng Lou, Co-Founder and CTO with the management team attend the Pony AI listing ceremony in Nasdaq

About the client

Pony AI is a global company aiming to achieve mass commercialization of revolutionary autonomous driving. It is among the 1st providers in China to obtain licenses to operate fully driverless robotaxis in all four tier-1 Chinese cities (Beijing, Shanghai, Guangzhou, and Shenzhen), and the only autonomous driving technology company that has obtained all available regulatory permits essential for providing public-facing robotaxi services in these cities. Its current business mainly includes Robotaxi, Robotruck, and licensing and applications.

Source: Pony AI’s IPO prospectus filed on 27 November 2024

About the IPO engagement

Deloitte China served Pony AI throughout its IPO journey with a high-quality philosophy of “diligence and excellence”. The engagement team has consistently maintained a professional and diligent attitude, and continuously provided the highest quality of professional services with the rich industry experience at each stage of listing filing work. It also worked collaboratively with all the other intermediaries to help Pony AI list on Nasdaq.

Deloitte China congratulates Pony AI on its successful listing on Nasdaq. We will continue to provide high quality professional services to assist more clients to take one-step ahead in today's increasingly competitive and complex business environment.