Momenta Files for Up to $751M Hong Kong IPO on June 29, with Trading Set for July 8

According to Reuters, Beijing-based autonomous-driving startup Momenta filed on June 29 to raise up to HK$5.89 billion (US$751.1 million) in a Hong Kong IPO by selling 19.9 million shares at HK$295.60 (US$38) each. The company expects to announce share allocations by July 7 and commence trading on July 8. Cornerstone investors may include Mercedes-Benz, BlackRock, and Boyu Capital.

Momenta plans to use proceeds for R&D and autonomous-driving technology advancement. In 2025, the company generated 2.4 billion yuan (US$355 million) in revenue, up from 743 million yuan in 2023, with its systems installed in over 400,000 vehicles across more than 40 production models.