Covering IPOs, Healthcare and Technology Stocks

Andrei Zakharov

Equity Capital Markets

<ul>
<li>Pony AI, a China’s robotaxi operator and self-driving technology company, plans to raise up to $360M in upcoming IPO and concurrent private placements.</li>
<li>Pony AI is expected to IPO next week. The company’s amended F-1 puts the price range per ADS at $11.00-$13.00, implying a market cap of ~$4.2B at the midpoint.</li>
<li>I believe Pony AI may price its IPO at the bottom of a range after WeRide’s mixed debut. IPO valuation suggests a drop from last round valuation of ~$8.5B.</li>
</ul>


Pony AI, a China’s robotaxi operator and self-driving technology company, plans to raise up to $360M in upcoming IPO and concurrent private placements.
Pony AI is expected to IPO next week. The company’s amended F-1 puts the price range per ADS at $11.00-$13.00, implying a market cap of ~$4.2B at the midpoint.
I believe Pony AI may price its IPO at the bottom of a range after WeRide’s mixed debut. IPO valuation suggests a drop from last round valuation of ~$8.5B.


Pony AI IPO Pricing: The Bottom Of a Range Looks Reasonable After WeRide’s Mixed Debut

APAC IPOs & Placements, Aequitas Research

Nicholas Tan

APAC IPOs & Placements

IPOs and Placements coverage across Asia Pacific

Aequitas Research

We cover all listing across the Asia Pacific along with follow-up placements. As of Dec 2020, our team had covered 539 IPOs with a hit rate of 73.5% and 685 placements with a hit rate of 66.8%.

We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic coverage across new listings and placements. Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

<ul>
<li>
<a href="https://www.smartkarma.com/entities/cidi-inc" target="_blank" data-smartkarma-citation="entities:44089:1" rel="noopener">CiDi Inc (CIDI HK)</a> is looking to raise about US$200m in its upcoming Hong Kong IPO. The deal will be run by CICC, China Securities and Ping An.</li>
<li>It is a leading provider of autonomous driving technology for commercial vehicles in China.</li>
<li>It focuses on research and development of autonomous mining and logistics trucks, V2X technologies and high-performance perception solutions.</li>
</ul>



CiDi Inc (CIDI HK) is looking to raise about US$200m in its upcoming Hong Kong IPO. The deal will be run by CICC, China Securities and Ping An.
It is a leading provider of autonomous driving technology for commercial vehicles in China.
It focuses on research and development of autonomous mining and logistics trucks, V2X technologies and high-performance perception solutions.


Hong Kong

CiDi is a leading provider of autonomous driving technology for commercial vehicles in China with a focus on research and development of autonomous mining and logistics trucks, V2X technologies and high-performance perception solutions.

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CiDi Inc (CIDI HK)

Pony AI IPO Pricing: The Bottom Of a Range Looks Reasonable After WeRide’s Mixed Debut

Pony AI sets terms for upcoming US IPO. In my insight, I discuss IPO valuation, fundamentals and competitive landscape in the AD space

Andrei Zakharov

CiDi Inc. Pre-IPO Tearsheet

CiDi Inc. is looking to raise about US$200m in its upcoming Hong Kong IPO. It is a leading provider of autonomous driving technology for commercial...

Nicholas Tan

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