Chinese autonomous driving firm Pony AI said on Wednesday it was targeting a valuation of up to $4.55 billion in its upsized initial public offering in the United States.
The company is now aiming to raise as much as $260 million in the IPO by offering 20 million American depositary shares (ADSs) priced between $11 and $13 each.
Guangzhou-based Pony AI had earlier planned on selling 15 million ADSs at the same price range.
The company plans to list on the Nasdaq under the symbol “PONY”.
The offering is being underwritten by Goldman Sachs, BofA Securities, Deutsche Bank, Huatai Securities and Tiger Brokers.
Reuters
