Chinese autonomous driving technology company Pony AI started trading on the Nasdaq on Wednesday at $15 per share, securing it a valuation of $5.25 billion. That opening price is 15% higher than Pony’s offering price of $13, which itself was at the high end of its expected range.

(Reuters) -Shares of Pony AI opened about 15% above their offer price in their market debut on Wednesday, giving the robotaxi company a valuation of $5.25 billion, in an indication of a positive investor approach to China-based firms.

Shares of China-based autonomous driving company Pony.ai were up around 19% in early trading Wednesday after the company made its Nasdaq debut.

Chinese companies had been avoiding stateside IPOs due to geopolitical tensions, but now they have fresh reason to consider U.S. markets.

The firm, which has headquarters in Silicon Valley and Guangzhou, China, makes tech that can turn cars into self-driving vehicles. Pony AI is having its initial public offering today. The firm, which is based in Silicon Valley but also has a headquarters in Guangzhou,

Shares in Pony AI ADR closed down $1 today after the Chinese autonomous vehicle startup raised approximately $413 million in an initial public offering that debuted on the Nasdaq earlier today.