Momenta launches $752M Hong Kong IPO to fund autonomous driving R&D
Momenta, a Chinese autonomous driving firm backed by Temasek, GM, and Tencent, launched an IPO on the Hong Kong Stock Exchange seeking up to HK$5.89 billion ($752 million). Priced at HK$295.60 per share, trading begins July 8. Proceeds will fund R&D (60%), robotaxi commercialization (20%), and vehicle solutions (10%). Fourteen cornerstone investors, including GIC, BlackRock, and Mercedes-Benz, committed $376 million. Revenue rose 82.1% to 2.41 billion yuan in 2025, while net loss widened to 3.45 billion yuan. Momenta plans robotaxi launches in Abu Dhabi and Munich in 2026.
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Momenta Global Hong Kong IPO raises $751 million
Momenta Global, a Chinese autonomous driving company backed by General Motors and Tencent, launched a Hong Kong IPO raising up to HK$5.89 billion ($751 million) at HK$295.60 per share, valuing the company at nearly $9 billion. Trading starts July 8. Fourteen cornerstone investors, including Mercedes-Benz, BlackRock, GIC, and Fidelity, committed to buying $376 million worth of shares. The company plans to use 60% of IPO funds for R&D in AI computing and data infrastructure, and 20% for expanding its Robotaxi business, including commercial services in Abu Dhabi and Munich pending regulatory approvals. In 2025, Momenta reported a net loss of 3.46 billion yuan on revenue of 2.41 billion yuan, an 82.1% year-over-year increase. Started by former Microsoft researcher Cao Xudong in 2016, Momenta provides ADAS software and Robotaxi services, working with Uber. The IPO contributes to a rebound in Hong Kong tech listings, following peers Pony AI and WeRide.
Yahoo FinanceMomenta Global Hong Kong IPO raises $751 million
Momenta Global, a Chinese self-driving technology company backed by General Motors and Tencent, launched a Hong Kong IPO on June 29, 2026, raising up to HK$5.89 billion ($751 million). Priced at HK$295.60 per share, the offering covers roughly 19.9 million shares, valuing the company at nearly $9 billion. Trading begins July 8. Fourteen cornerstone investors, including Mercedes-Benz, BlackRock, GIC of Singapore, and Fidelity International, committed to buying about $376 million in shares. IPO proceeds will be allocated 60% to R&D (AI computing, data storage, engineering talent) and 20% to expanding Robotaxi services. Founded in 2016 by former Microsoft researcher Cao Xudong, the company provides autonomous driving software and plans to launch commercial Robotaxi services in Abu Dhabi and Munich this year. The company reported a net loss of 3.46 billion yuan in 2025 on revenue of 2.41 billion yuan, up 82.1% year-over-year. The IPO reflects a rebound in Chinese tech listings in Hong Kong.
Yahoo FinanceAutonomous driving firm Momenta targets $752m in Hong Kong listing
Momenta, an autonomous driving software company, has launched an IPO on the Hong Kong Stock Exchange aiming to raise HK$5.9bn ($752m) at HK$295.60 per share. The offering comprises about 19.9 million Class A ordinary shares, with trading set to begin on 8 July. Net proceeds of approximately HK$5.61bn will be used for R&D (60%), robotaxi commercialization (20%), mass-produced vehicles (10%), and working capital (10%). Fourteen cornerstone investors, including GIC, Fidelity International, BlackRock, and Mercedes-Benz Group, are acquiring shares worth around $376m. Founded in 2016, Momenta has ties with 24 global OEMs including BMW, Audi, Toyota, and BYD. Revenue rose 82.1% to 2.41bn yuan in 2025, while net loss grew to 3.45bn yuan. The company holds commercial robotaxi operating approvals in Suzhou and Shanghai and plans international launches in Abu Dhabi and Munich in 2026.
Yahoo FinanceAutonomous Driving Firm Momenta Targets $752 Million in Hong Kong Listing
Autonomous driving software company Momenta has launched an IPO on the Hong Kong Stock Exchange, seeking to raise $752 million (HK$5.9 billion) at HK$295.60 per share. The company, valued at roughly HK$69.6 billion, plans to begin trading on July 8. Net proceeds of approximately HK$5.61 billion will be allocated 60% to R&D, 20% to robotaxi commercialization and deployment, 10% to mass-produced vehicle solutions, and 10% to working capital. Fourteen cornerstone investors, including GIC, Fidelity International, BlackRock, and Mercedes-Benz Group, are acquiring about $376 million in shares. Founded in 2016, Momenta serves 24 global OEMs, including BMW China, Audi, Toyota, BYD, and Ford, with over 733,000 installed vehicle solutions. Revenue rose 82.1% year-on-year to 2.41 billion yuan ($354.5 million) in 2025, while net loss grew to 3.45 billion yuan. The company plans international robotaxi launches in Abu Dhabi and Munich in 2026.
Yahoo FinanceTemasek-backed Momenta seeks up to HK$5.89 billion in Hong Kong IPO to boost autonomous driving R&D
Momenta, an autonomous driving technology company backed by Singaporean state investor Temasek, is planning to raise up to HK$5.89 billion (approximately US$752 million) through an initial public offering (IPO) on the Hong Kong Stock Exchange. The company intends to offer 19.9 million shares at a price of HK$295.60 each. Proceeds from the IPO will be used to accelerate research and development in autonomous driving technology. Momenta's advanced driver-assistance systems (ADAS) are currently utilized by major automakers including Toyota and Mercedes-Benz. The IPO reflects growing investor interest in autonomous vehicle technology and marks a significant capital-raising event in the Hong Kong market.
The Business Times