Autonomous Driving Firm Momenta Launches HK IPO, Aims to Raise $7.1 Billion

On June 29, autonomous driving company Momenta launched its initial public offering (IPO) on the Hong Kong Stock Exchange, with the subscription period running from June 29 to July 3. The company plans to globally offer 19,938,000 shares, of which 10% will be allocated to the Hong Kong public offering. The issue price has been set at HK$295.6 per share (approximately RMB 256.4), with total expected proceeds amounting to HK$5.89 billion (approximately RMB 5.11 billion). The minimum subscription quantity for investors is 20 shares, and the cost for one board lot (20 shares) is HK$5,971.6 (approximately RMB 5,180). Trading of the company’s shares is scheduled to commence on the Hong Kong Stock Exchange on July 8 at 9:00 a.m. Momenta specializes in providing multi-level autonomous driving solutions and big data services, with core technologies covering deep learning-based environmental perception, high-definition mapping, and driving decision-making systems. The proceeds from this IPO will be used to advance the company’s research and development as well as commercialization efforts in the field of autonomous driving.