NEW YORK -- Shares in China-based autonomous driving technology company Pony AI climbed 16% after it listed on Wednesday, in what is one of the biggest initial public offerings by any Chinese company in the U.S. this year.
The company raised $260 million for a valuation of around $4.5 billion on the Nasdaq exchange, where it sold 20 million American depositary shares. It was earlier aiming for $195 million before updating the goal in an indication of strong investor interest.
