Key facts
- Momenta Global is seeking to raise up to $751.10 million through its Hong Kong IPO.
- The funds will be used for research and development, autonomous driving capabilities, and Robotaxi services.
- The company plans to offer 19.9 million shares at HK$295.60 each.
- Trading is expected to begin on July 8.
- Potential cornerstone investors include Mercedes-Benz, BlackRock, and Boyu Capital.
Chinese autonomous driving technology firm Momenta Global is seeking to raise up to HK$5.89 billion ($751.10 million) through its initial public offering in Hong Kong. The company plans to allocate the funds towards bolstering its research and development capabilities, enhancing its autonomous driving systems, and accelerating the commercialization of its Robotaxi services. A portion will also be used for working capital and general corporate purposes.
Momenta intends to offer 19.9 million shares at HK$295.60 each, with trading of its Class A ordinary shares anticipated to commence on July 8. Potential cornerstone investors in the IPO include existing backer Mercedes-Benz, alongside BlackRock and China's Boyu Capital.
The company, founded in 2016 by former Microsoft employee Cao Xudong, has faced significant losses, reporting an attributable loss of 3.46 billion yuan ($508.97 million) in 2025, an increase from 3.21 billion yuan in 2024. Momenta's advanced driver-assistance systems are currently utilized by automakers such as Toyota, Mercedes-Benz, and Audi in China. The firm also has a German research hub and plans to pilot Level 4 autonomous vehicles in partnership with Uber by 2026.
The IPO contributes to a strong performance in the Hong Kong listings market, which saw IPOs and secondary listings of A-share companies raise $21.6 billion in the first half of 2026, a 51% increase year-over-year.