07:21 AM EST, 11/15/2024 (MT Newswires) -- Pony AI said in a preliminary prospectus Thursday said it is planning to offer 15 million American Depositary Shares, each representing one Class A ordinary share, in its upcoming U.S. initial public offering, with a price range of $11.00 to $13.00 per ADS.

The self-driving firm is aiming to raise up to $195 million in the IPO at a valuation of up to $4.48 billion, multiple media outlets reported Thursday and Friday.

Pony AI said underwriters will have an option to buy up to 2,250,000 additional ADSs within 30 days to cover over-allotments, if any.

Pony AI said two investors, including a subsidiary of Beijing Automotive and ComfortDelGro Ventures, have indicated interest in purchasing up to $74.85 million worth of ADSs. Along with the IPO, certain investors agreed to purchase approximately $153.4 million worth of Class A ordinary shares from the company.

Pony will list on Nasdaq Global Select Market under the symbol "PONY."