04:30 AM EDT, 10/28/2025 (MT Newswires) -- Pony AI (PONY) said late Monday that it is launching its initial public offering in Hong Kong of about 42 million class A ordinary shares on Tuesday.

The offering comprises a Hong Kong public offering of initially about 4.2 million shares and an international offering of initially about 37.8 million shares.

The Hong Kong public offering will be priced at no more than $180 Hong Kong dollars ($23.17) per share, while the international offering tranche may be priced higher than or the same as the maximum Hong Kong offering price on or about Nov. 3.

As part of the international offering, the company has entered into agreements with certain cornerstone investors to subscribe to about $120 million of shares.

The company said it plans to use the net proceeds for large-scale commercialization of its level 4 autonomous driving technology, for research and development, and for working capital and other purposes.