Chinese autonomous driving firm Momenta has launched its Hong Kong IPO, aiming to raise up to $751 million to fund AI and self-driving expansion.
Chinese self-driving technology company Momenta Global has launched its Hong Kong initial public offering (IPO), seeking to raise up to HK$5.89 billion ($751.1 million), according to Reuters.
The IPO is expected to improve momentum in Chinese tech listings, supported by growing investor interest in AI, automation and smart mobility.
Momenta is offering 19.9 million shares at HK$295.60 each, with trading expected to begin on July 8.
The company said around 60% of the proceeds will be used for research and development, including AI computing power, data storage and engineering capabilities. About 20% will be allocated to accelerate the rollout of its Robotaxi services.
Major cornerstone investors include Mercedes-Benz, BlackRock funds and Boyu Capital, alongside GIC, Fidelity International, Oaktree, Franklin Templeton and ChinaAMC.
Founded in 2016 by former Microsoft researcher Cao Xudong, Momenta develops advanced driver-assistance software for automakers. Its customers include Toyota, Mercedes-Benz, SAIC, General Motors, BYD and Audi.
The company reported a 2025 net loss of 3.46 billion yuan, wider than 3.21 billion yuan a year earlier, even as revenue jumped 82.1% to 2.41 billion yuan.
