Momenta Global Ltd., a self-driving technology company backed by General Motors, starts the bookbuilding process for a Hong Kong initial public offering aimed at raising about HK$5.9 billion (about $751–$752 million). Multiple outlets report that the firm is seeking roughly $750 million through its planned listing on the Hong Kong Stock Exchange, using current demand conditions after a period in which share sales in the city have been weak.
The South China Morning Post says Momenta offers nearly 19.94 million shares at HK$295.60 per share, with a minimum board lot of 20 shares and a stated minimum investment of HK$5,971.62. It also reports that bookbuilding runs until Friday, ahead of a scheduled trading debut. Bloomberg similarly frames the move as a bid to raise $752 million via the Hong Kong IPO and notes that the offering begins with investor order-taking.
Both accounts describe the offering size and timing and indicate the IPO price and share quantity. The South China Morning Post adds that the company is testing investor sentiment amid a broader slump affecting China’s auto industry.
