Pony.ai receives CSRC’s approval for overseas listing

Beijing (Gasgoo)- On April 23, the China Securities Regulatory Commission (CSRC) issued the "Notice on the Overseas Issuance and Listing of Pony AI Inc.", which signifies the CSRC’s approval for the autonomous driving tech firm Pony.ai to go public overseas.

Photo credit: Pony.ai

According to the notice, autonomous driving solution developer Pony.ai submitted the materials for overseas securities offering and listing through its operating entity in China, Guangzhou Xiaoma Huixing Technology Co., Ltd. The company plans to issue up to 98,149,500 ordinary shares and list them on either the Nasdaq Stock Market or the New York Stock Exchange in the United States.

The notice also stipulates that Pony.ai must report significant events through the CSRC's filing management information system during the period from the issuance of this notice until the completion of the overseas securities offering and listing. Within 15 working days after the completion of the overseas offering and listing, Pony.ai must report the situation through the CSRC's filing management information system. Throughout the process, Pony.ai must strictly comply with relevant domestic and foreign laws, regulations, and rules. If the overseas securities offering and listing is not completed within 12 months from the date of this notice, Pony.ai should update the filing materials if it intends to continue the process.

Since its establishment in 2016, Pony.ai has achieved significant milestones in technology deployment domestically and abroad, replicating and promoting its mature experiences in technology R&D, investment construction, and product implementation. Its global technological layout has expanded to Europe, North America, East Asia, and the Middle East. With the accumulation of product and technical strength in its three major business areas—autonomous ride-hailing services, autonomous freight logistics, and passenger vehicle intelligent driving—Pony.ai is accelerating the accessibility of smart transportation to more countries and people.