Chinese autonomous driving firm Momenta prices shares at HK$295.60, securing $751 million ahead of July 8 trading debut.
Momenta Global, a Chinese self-driving technology company, raised $751 million in its Hong Kong initial public offering, pricing 19.9 million shares at HK$295.60 each. The deal values the company at nearly $9 billion, with cornerstone investors committing $376 million to the offering.
The IPO attracted backing from Mercedes-Benz, BlackRock, GIC, and other institutional investors. Proceeds will fund R&D, AI infrastructure, and expansion of Momenta’s Robotaxi business, with 60% allocated to technology development and 20% to fleet growth.
Trading is set to begin on July 8, with cornerstone investors locked in for six months. Momenta, founded in 2016, provides autonomous driving software to automakers and operates Robotaxi trials in China and internationally.