Pony.ai is aiming for a valuation of up to US$4.48 billion in its US IPO as it pursues a long-awaited New York listing.

This IPO signifies a returning trend of Chinese firms listing in the US after a slowdown.

Investors, like the Beijing-based BAIC Group, have expressed interest in purchasing shares worth up to US$74.9 million.

Pony.ai has also secured commitments from investors for approximately US$153.4 million in shares through private placements.

The company will be listed on Nasdaq under the ticker “PONY,” with Goldman Sachs, BofA Securities, Deutsche Bank, Huatai Securities, and Tiger Brokers as underwriters.

Recent Pony.ai developments