Autonomous driving software company Momenta has launched an initial public offering (IPO) on the Hong Kong Stock Exchange, seeking to raise HK$5.9bn ($752m) at HK$295.60 per share.
The offering comprises approximately 19.9 million Class A ordinary shares, split between 1.99 million Hong Kong offer shares and 17.9 million international offer shares, with an over-allotment option in place.
The transaction values the company at roughly HK$69.6bn, with net proceeds estimated at HK$5.61bn after underwriting commissions and related expenses.
According to the company, shares are due to begin trading on 8 July.
Momenta has earmarked roughly 60% of the net proceeds for research and development.
The remainder is to be divided across robotaxi commercialisation and scaled deployment (20%), its mass-produced vehicles business (10%), and working capital and general corporate purposes (10%).
Fourteen cornerstone investors, each bound to hold their allocations for at least six months, are collectively acquiring shares worth around $376m.
The group includes Singapore's sovereign wealth fund GIC, Fidelity International, BlackRock, and Mercedes-Benz Group.
Founded in 2016, Momenta also counts General Motors and Tencent Holdings among its backers.
The company operates across two divisions: solutions for mass-produced vehicles, which supplies production-ready driving automation software to OEMs, and solutions for robotaxi services.
The company holds commercial operating approvals in Suzhou and Shanghai and has scheduled international robotaxi launches in Abu Dhabi and Munich in 2026.
As of 28 February 2026, the company has ties with 24 global OEMs – among them BMW Group China, Audi, Toyota, BYD and Ford – representing nine of the ten largest OEM groups by volume.
Installed vehicle solutions across these partnerships had surpassed 733,000 units.
Revenue rose 82.1% year-on-year to 2.41bn yuan ($354.5m) in 2025 from 1.32bn yuan in 2024, supported by higher licensing and technical development service revenue.
Gross profit margin widened to 71.6% from 49%, while the net loss grew to 3.45bn yuan from 3.20bn yuan.
