The IPO Buzz: Pony AI (PONY Proposed) May Take a Road Trip Before Thanksgiving

Pony AI (PONY Proposed) may cruise out on the IPO highway during this short week – just ahead of the Thanksgiving holiday. (The U.S. stock market will be closed on Thursday, Nov. 28, 2024, for Thanksgiving.) Pony AI’s tentative IPO pricing date was delayed until this week – after the Chinese self-driving car technology company dramatically upsized its IPO last week to $240 million – up from $180 million under the original terms. Pony AI is offering 20.0 million American Depositary Shares (ADS) at a price range of $11.00 to $13.00 to raise $240 million, if priced at the $12.00 mid-point of its range. (For details, please see Pony AI’s IPO Profile on IPOScoop.com as well as its F-1/A filing dated Nov. 20, 2024.) Goldman Sachs (Asia), BofA Securities, Deutsche Bank Securities, Huatai Securities and Tiger Global are the joint book-runners.   Wall Street has been abuzz over a Bloomberg story that Uber may invest in Pony AI’s IPO. Pony AI,  based in Guangzhou, China, is developing autonomous driving technology systems for robotaxis and robobuses, according to the prospectus. Pony AI Inc.  runs a fleet of more than 250 robotaxis that are licensed to operate without drivers in four Tier-1 cities in China. Pony AI also runs 190 robotrucks, according to the prospectus. Pony AI also has permits to test its robotaxis outside China. The rest of this short holiday week’s IPO Calendar consists of a carry-over deal – Brazil Potash (GRO Proposed) on a day-to-day basis – as well as six tiny IPOs with pricing dates – and up to another four micro-sized IPOs that may be priced sometime this week, pending regulators’ sign-offs.   (For more information about these companies, please check the IPO Calendar and the individual IPO Profiles found on the IPOScoop.com  website.) Note: Never trade on proposed symbols. They have been known to change and you might buy something on the OTC Bulletin Board. To see what time the NASDAQ IPOs are expected to trade, please log in to: NASDAQTrader.com then scroll down to IPO Message.  Disclosure: Nobody on the IPOScoop.com staff has a position in any stocks mentioned above, nor do they trade or invest in IPOs. The IPOScoop.com staff does not issue advice, recommendations or opinions. Disclaimer: A SCOOP Rating (Wall Street Consensus of Opening-day Premiums) is a general consensus taken, at press time, from Wall Street and investment professionals concerning how well an IPO might perform when it starts trading. The SCOOP Rating does not reflect the opinions of anyone associated with IPOScoop.com. The SCOOP ratings should not be taken as investment advice. The rating merely reflects the opinion of the professionals at the time of publication and is subject to last-minute changes due to market conditions, changes in a specific offering and other factors, such as changes in the proposed offering terms and the shifting of investor interest in the IPO. The information offered is taken from sources we believe to be reliable, but we cannot guarantee the accuracy.