Pony AI is set to debut on the Nasdaq at a valuation of $4.55B

Chinese autonomous driving technology company Pony AI will begin trading on Nasdaq on Wednesday with an offering price of $13 per share, the high end of the expected range.

With an initial public offering of 20 million US shares, Pony stands to raise at least $260 million for a total of $4.55 billion since its inception.

The profit will probably outweigh that. Strategic investors are expected to buy about $153 million of Pony AI shares in the private placement, while the underwriters – Goldman Sachs, BofA Securities, Deutsche Bank, Huatai Securities, and Tiger Brokers – have an option to buy 3 million additional shares.

In total, Pony’s earnings could rise to $452.4 million.

Following WeRide and Zeekr, Pony is the latest Chinese tech company to brave the US public market after a de facto ban in Beijing. Investors will be keeping a close eye on the Pony’s performance, especially as the US and China seek to dominate developments in autonomous vehicle technology.