Pony AI Inc is poised to raise HK$6.7 billion ($863 million) in its Hong Kong Special Administrative Region listing after telling prospective investors the Chinese mainland autonomous-driving company plans to price shares at HK$139 each, according to people familiar with the matter.

The company is selling 42 million shares in the offering and is set to fully exercise an option to sell an additional 6.3 million, the people said, asking not to be identified as the information isn’t public. A representative for Pony AI didn’t immediately respond to requests seeking comment.

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The price would represent a discount of slightly over 4 percent to its Friday close of $18.68 on the Nasdaq. It had set a maximum of HK$180 per share for the offering, but the US-listed shares have fallen since then.

The robotaxi firm’s listing has attracted ride-hailing giant Uber Technologies Inc, which was in talks to invest about $100 million in the share sale, people familiar with the matter have said. Pony AI went public in the US just last year, shortly after rival autonomous driving firm WeRide Inc made its US debut.

Both companies are now targeting listings in Hong Kong on Nov 6. WeRide is looking to raise as much as HK$3.1 billion in its share sale.

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Pony AI is planning to use the proceeds from its Hong Kong listing for large-scale commercialization of its Level 4 autonomous driving technology in both robotaxi and robotruck services, as well as for research and development. The company has a goal to turn profitable in 2028 or 2029.

Pony AI’s American depositary receipts have climbed 44 percent since their debut in November 2024, giving the firm a market capitalization of $7.2 billion.

Goldman Sachs Group Inc, Bank of America Corp, Deutsche Bank AG, and Huatai International are joint sponsors for Pony AI’s Hong Kong listing.