Pony AI has confidentially filed for HK listing, report says

Pony AI could be listed in Hong Kong this year, according to Bloomberg.

Hong Kong's stock market began allowing companies to confidentially file listing applications earlier this month.

Chinese autonomous driving startup Pony AI (NASDAQ: PONY) has confidentially filed for a Hong Kong listing to raise money to grow its business, Bloomberg said today in a report citing people familiar with the matter.

A Hong Kong offering may take place this year, but the exact size is unclear, according to the report.

Hong Kong's stock market previously didn't allow companies to confidentially file applications for listings, unlike the US stock market.

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On May 6, Hong Kong's securities regulators and the Hong Kong Stock Exchange announced that they begun allowing technology and biotech companies to choose to file their listing applications confidentially.

The new rule means that a company can disclose a prospectus after it has passed the Hong Kong Stock Exchange's listing hearing.

Pony AI went public on Nasdaq on November 27, 2024, issuing 20 million ADSs and raising a total of $260 million.

It also sold about $153 million worth of ordinary shares through a private placement at that time, bringing total IPO fundraising to $413 million.

Pony AI chairman, co-founder and CEO Peng Jun and co-founder and chief technology officer Lou Tiancheng have each entered into voluntary extended lock-up agreements, according to a statement from the company today.

All of their shares will remain locked up for 540 days, counting from May 25, 2025.

The extended lock-up period covers a total of 110,828 shares of class A ordinary shares and 81,088,770 shares of class B ordinary shares, or about 22.9 percent of the company's total issued and outstanding ordinary shares.

"These voluntary extended lock-up agreements demonstrate our confidence in Pony.ai’s vision and the execution of our growth strategy," Peng said.

"At this critical stage of scaling up our Robotaxi production and deployment, we believe this commitment will further reinforce long-term shareholder confidence and support sustainable value creation," he said.

Pony AI announced a strategic partnership earlier this month to deploy its robotaxis to Uber's platform.

The partnership is expected to be launched first in a key market in the Middle East later this year, with plans to deploy to more international markets in the future, Pony AI said.