Autonomous driving firm Momenta targets $752m in Hong Kong listing

Autonomous driving bundle institution Momenta has launched an archetypal nationalist offering (IPO) connected the Hong Kong Stock Exchange, seeking to rise HK$5.9bn ($752m) astatine HK$295.60 per share.

The offering comprises astir 19.9 cardinal Class A mean shares, divided betwixt 1.99 cardinal Hong Kong connection shares and 17.9 cardinal planetary connection shares, with an over-allotment enactment successful place.

The transaction values the institution astatine astir HK$69.6bn, with nett proceeds estimated astatine HK$5.61bn aft underwriting commissions and related expenses.

According to the company, shares are owed to statesman trading connected 8 July.

Momenta has earmarked astir 60% of the nett proceeds for probe and development.

The remainder is to beryllium divided crossed robotaxi commercialisation and scaled deployment (20%), its mass-produced vehicles concern (10%), and moving superior and wide firm purposes (10%).

Fourteen cornerstone investors, each bound to clasp their allocations for astatine slightest six months, are collectively acquiring shares worthy astir $376m.

The radical includes Singapore's sovereign wealthiness money GIC, Fidelity International, BlackRock, and Mercedes-Benz Group.

Founded successful 2016, Momenta besides counts General Motors and Tencent Holdings among its backers.

The institution operates crossed 2 divisions: solutions for mass-produced vehicles, which supplies production-ready driving automation bundle to OEMs, and solutions for robotaxi services.

The institution holds commercialized operating approvals successful Suzhou and Shanghai and has scheduled planetary robotaxi launches successful Abu Dhabi and Munich successful 2026.

As of 28 February 2026, the institution has ties with 24 planetary OEMs – among them BMW Group China, Audi, Toyota, BYD and Ford – representing 9 of the 10 largest OEM groups by volume.

Installed conveyance solutions crossed these partnerships had surpassed 733,000 units.

Revenue roseate 82.1% year-on-year to 2.41bn yuan ($354.5m) successful 2025 from 1.32bn yuan successful 2024, supported by higher licensing and method improvement work revenue.

Gross nett borderline widened to 71.6% from 49%, portion the nett nonaccomplishment grew to 3.45bn yuan from 3.20bn yuan.

"Autonomous driving steadfast Momenta targets $752m successful Hong Kong listing" was primitively created and published by Just Auto, a GlobalData owned brand.