Autonomous driving firm Pony.ai has launched its Hong Kong initial public offering, seeking to raise up to US$1.02 billion and build a dual listing alongside its Nasdaq shares.

The company is offering 41.96 million shares, with 10% for retail investors and 90% for institutions. It has a 15% reallocation option between the two tranches and a 15% overallotment option. The top offer price is HK$180 per share, and trading is set to start on Nov. 6 under code 2026.

Eastspring Investments and other global funds have committed US$120 million as cornerstone investors.

Pony.ai, which listed on Nasdaq in November 2024 as the world's first Robotaxi stock, said the new listing will bolster funding for its autonomous driving push.