BEIJING, China, Oct. 27, 2025 (GLOBE NEWSWIRE) -- Pony AI Inc. ("Pony.ai" or the "Company") (NASDAQ:PONY), a global leader in the commercialization of autonomous mobility, today announced the launch of its initial public offering in Hong Kong (the "Hong Kong IPO") of 41,955,700 Class A ordinary shares of the Company (the "Offer Shares") pursuant to Regulation S ("Regulation S") of the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act"), which comprises a Hong Kong public offering of initially 4,195,600 Class A ordinary shares (the "Hong Kong Public Offering") and an international offering of initially 37,760,100 Class A ordinary shares (the "International Offering"), both commencing on October 28, 2025 Hong Kong time, and dual-primary listing of its Class A ordinary shares on the Main Board of The Stock Exchange of Hong Kong Limited (the "Hong Kong Stock Exchange") under the stock code "2026."
The Company's American depositary shares (the "ADSs"), each representing one Class A ordinary share of the Company, will continue to be listed and traded on the Nasdaq Global Select Market ("NASDAQ"). Investors in the Hong Kong IPO will only be able to purchase Class A ordinary shares and will not be able to take delivery of ADSs. During the forty (40)-day period after the completion of the Hong Kong IPO, commencing from 8:00 a.m. on November 6, 2025, Hong Kong time (7:00 p.m. Eastern Time on November 5, 2025) and ending at 0:00 a.m. on December 17, 2025, Hong Kong time (11:00 a.m. Eastern Time on December 16, 2025), both dates inclusive, (the "Distribution Compliance Period"), no Class A ordinary shares issued in the Hong Kong IPO or acquired during such Distribution Compliance Period will be accepted by the depositary for deposit in the existing ADR facility of the Company. Immediately after the Distribution Compliance Period, the Class A ordinary shares listed on the Hong Kong Stock Exchange will become fungible with the ADSs listed on the NASDAQ.
The initial number of Class A ordinary shares under the Hong Kong Public Offering and the International Offering represent 10% and 90% of the total number of Class A ordinary shares initially available under the Hong Kong IPO, respectively, subject to reallocation, over size adjustment and over-allotment. Subject to the level of oversubscription in the Hong Kong Public Offering and pursuant to the clawback mechanism as described in the Hong Kong prospectus issued by the Company in Hong Kong dated October 28, 2025, the total number of Class A ordinary shares available under the Hong Kong Public Offering could be adjusted to up to a maximum of 6,293,300 Class A ordinary shares, representing approximately 15% of the Class A ordinary shares initially available under the Hong Kong IPO. In addition, the Company is expected to grant to the International Underwriters an offer size adjustment option, to require our Company to issue and allot up to an aggregate of 6,293,300 additional Class A Ordinary Shares, representing in aggregate approximately 15% of the total number of the Offer Shares initially available under the Hong Kong IPO, to cover any excess demand in ...
