Driverless Tech Firm Pony AI Raises $863 Million in HK Listing

Pony AI Inc. raised HK$6.71 billion ($863 million) in its Hong Kong listing, pricing shares at HK$139 each.

The company sold 42 million shares in the base offering and exercised the option to sell an additional 6.3 million, according to a filing Monday confirming an earlier Bloomberg News report. The price represents a discount of slightly over 4% to its Friday close of $18.68 per American depositary receipt on the Nasdaq.

Pony had set a maximum price of HK$180 per share for the offering, but the US-listed ADRs have fallen since then. The ADRs, which are equivalent to one ordinary ...