Pony AI Inc. (NASDAQ:PONY) is one of the top-performing stocks, soaring 11.13% on Tuesday after filing for an IPO in Hong Kong, aiming to raise up to $1 billion.

The company plans to issue over 41.95 million shares globally, with a potential overallotment option of 7.2 million more shares based on demand.

Pony AI’s offer price won’t exceed HK$180 ($23.17) per share, with final pricing set for November 3, 2025, trading under the stock code “2026” in board lots of 100 shares.

Proceeds from the IPO will fund autonomous driving technology and research, with $120 million in cornerstone investments secured, including $100 million from Uber Technologies Inc.

Read more at Yahoo Finance: Pony AI (PONY) Soars 11% as Firm Kicks Off Hong Kong Listing