June 29 - Momenta Global has outlined plans to raise up to HK$5.89 billion, approximately $751.10 million, in a Hong Kong initial public offering, according to a company exchange filing. The autonomous driving technology developer said the capital will be channelled into strengthening its research and development programmes and advancing its autonomous driving systems.
In the filing, Momenta said a core portion of the IPO proceeds will be dedicated to boosting its autonomous driving capabilities and accelerating the commercialisation of its Robotaxi services. The company indicated that remaining funds will go toward working capital needs and general corporate purposes.
The offering is structured as 19.9 million shares priced at HK$295.60 each. Momenta signalled it expects to publish allocation results by July 7, with trading in its Class A ordinary shares due to commence the following day, July 8. The filing also noted potential cornerstone investors in the listing could include existing backer Mercedes-Benz, as well as BlackRock and China’s Boyu Capital.
Momenta disclosed in its IPO documents that it recorded a loss attributable to shareholders of 3.46 billion yuan in 2025, compared with a loss of 3.21 billion yuan in 2024. The widening loss was included in the materials submitted as part of the listing process.
The filing situates Momenta’s IPO within a busy Hong Kong market for new listings. According to preliminary LSEG-compiled data cited in the filing, IPOs and secondary listings of A-share companies raised $21.6 billion in the first half of 2026, a rise of 51% from the prior year.
Founded in 2016 by Cao Xudong, Momenta is backed by multiple major automakers and investors. The filing lists supporters including Toyota, Mercedes-Benz, SAIC and General Motors, in addition to strategic and financial investors such as Temasek and Tencent.
The company has been expanding its international footprint. Its filing describes a German research hub where Momenta plans to pilot Level 4 autonomous vehicles by 2026 in partnership with Uber. Momenta also notes that its advanced driver-assistance systems are presently deployed by Toyota, Mercedes-Benz and Audi in China.
The filing includes standard currency conversions for reference: $1 equals 7.8418 Hong Kong dollars and $1 equals 6.7980 Chinese yuan.