(June 23): Momenta Global Ltd is set to start gauging investor interest for an initial public offering (IPO) in Hong Kong as early as this week, according to people familiar with the matter.
The autonomous driving tech startup, which is backed by General Motors Co and Tencent Holdings Ltd, has received the Hong Kong Stock Exchange’s approval to offer shares and on Tuesday filed paperwork following its listing hearing. Deliberations are ongoing, and details of the deal may change, the people added, asking not to be named to discuss a private matter. Momenta didn’t respond to a request for comment.
The Suzhou-based company is following self-driving firms including Pony AI Inc and WeRide Inc that have tapped Hong Kong’s capital markets to support technological development. The company previously considered listing in the US, where it confidentially filed for an IPO in 2024, people familiar with the matter said at the time.
Founded in 2016, Momenta supplies technology for mass-produced vehicles and robotaxi services. The company posted a loss of 3.5 billion yuan on revenue of 2.4 billion yuan in 2025, according to its listing paperwork.
China International Capital Corp and Deutsche Bank AG are leading Momenta’s IPO.
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