Momenta Global launches $751 million Hong Kong IPO to fund autonomous‑driving R&D

Chinese autonomous‑driving technology firm Momenta Global filed to raise up to HK$5.89 billion (about US$751 million) in a Hong Kong initial public offering. The company will sell roughly 19.9 million shares at HK$295.60 each, with trading set to begin on 8 July 2026. About 60 % of the proceeds are earmarked for research and development of AI‑driven driving systems, while 20 % will support the commercial rollout of its Robotaxi service; the remainder will cover working capital and corporate purposes. Cornerstone investors include Mercedes‑Benz, BlackRock, Boyu Capital, Singapore’s GIC, Fidelity International and others. Momenta, founded in 2016 by former Microsoft researcher Cao Xudong, supplies advanced driver‑assistance software to manufacturers such as Toyota, Mercedes‑Benz, SAIC, General Motors and Audi. The firm reported a net loss of ¥3.46 billion in 2025, wider than the ¥3.21 billion loss in 2024, but revenue grew 82 % to ¥2.41 billion. The IPO adds to a busy Hong Kong listings market and reflects China’s push to fund domestic AI and autonomous‑driving capabilities.