IPOs and Catalysts/Events, Global Equity Research Ltd

Arun George

Arun has over 15 years’ experience covering the Technology sector. During this time, he has worked with technology start-ups and as an equity analyst in investment banks and independent research firms. He was formerly a Technology Analyst for Canaccord Genuity, Altium Securities, Espirito Santo Investment Bank, Noble Group and Clear Capital. He has a dual Master’s degree in Financial Engineering and Industrial and Operations Engineering from the University of Michigan. He obtained his Bachelor’s degree in Mechanical Engineering from the Indian Institute of Technology, Bombay. He is also a CFA charterholder.

IPOs and Catalysts/Events

Weekly Deals Digest (02 Nov) - Pony AI, Seres, WeRide, ANE, Mayne, Brainpad, SCSK, Sumitomo Riko

Pony.AI Hong Kong Public Offering Valuation Analysis

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Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/pony-ai-inc" target="_blank" data-smartkarma-citation="entities:44035:1" rel="noopener">Pony AI (PONY US)</a> is a Chinese robotaxi operator and self-driving technology company. It is seeking to raise US$1 billion through a dual primary HKEx listing.     </li>
<li>It was listed on the Nasdaq on 27 November 2024, raising US$260 million at US$13.00 per ADS. Since listing, the shares are up 48%.</li>
<li>The investment case centres around Pony’s accelerating revenue growth and progress towards positive unit economics. However, the path to profitability is long-dated and the valuation is full. </li>
</ul>



Pony AI (PONY US) is a Chinese robotaxi operator and self-driving technology company. It is seeking to raise US$1 billion through a dual primary HKEx listing.     
It was listed on the Nasdaq on 27 November 2024, raising US$260 million at US$13.00 per ADS. Since listing, the shares are up 48%.
The investment case centres around Pony’s accelerating revenue growth and progress towards positive unit economics. However, the path to profitability is long-dated and the valuation is full. 


Pony AI HK Dual Primary Listing: The Investment Case