GM-Backed Autonomous Driving Firm Momenta Seeks $752 Million in Hong Kong IPO

GM- and Tencent-backed autonomous driving firm Momenta Global Ltd. is seeking to raise $752 million (HK$5.9 billion) in a Hong Kong IPO. The Suzhou-based company is offering about 19.9 million shares at HK$295.60 each, which would give it a valuation of nearly $9 billion, as it takes advantage of a multiyear high for share sales in the city.

Hong Kong IPO details

• ▪Autonomous-driving firm Momenta Global Ltd. is seeking to raise HK$5.9 billion ($752 million) in a Hong Kong initial public offering.
• ▪Momenta Global Ltd. is offering about 19.9 million shares at a price of HK$295.60 each.
• ▪The IPO is taking place during a multiyear high for share sales in Hong Kong.
• ▪Momenta Global Ltd. began taking investor orders for its Hong Kong IPO on June 29, 2026.

Company valuation

• ▪At its IPO price, Momenta Global Ltd. would be valued at nearly $9 billion.
• ▪Autonomous-driving firm Momenta Global Ltd. is seeking to raise HK$5.9 billion ($752 million) in a Hong Kong initial public offering.

Strategic investors

• ▪Momenta Global Ltd. is an autonomous-driving firm based in Suzhou.
• ▪Momenta Global Ltd. is backed by investors including General Motors Co. and Tencent Holdings Ltd.

1 source