Chinese autonomous-driving software firm Momenta Global begins trading on the Hong Kong Stock Exchange after raising about HK$5.9 billion (roughly $751–$752 million) in its Hong Kong initial public offering. Multiple outlets report the company priced and offered about 19.94 million Class A shares at HK$295.60 each, with details tying the offering to a main-board listing under ticker 6880.HK. Bookbuilding opens and closes around late June to early July, with reporting that share allocations are expected to be announced in early July and that trading starts shortly thereafter.
Several sources describe Momenta as GM-backed and supported by cornerstone investors, including large institutional names such as GIC, Fidelity, and BlackRock, alongside underwriting and listing advisers. Coverage also frames the IPO as a test of investor appetite for loss-making technology and AI companies in Hong Kong. While one outlet reports strong oversubscription figures, others note that the market reception can be muted even after the capital raise. The company says it intends to use proceeds for research, development, and expansion related to autonomous driving and related products, including robotaxis.
