Chinese autonomous driving technology firm Momenta Global aims to raise up to HK$5.89 billion ($751.10 million) through its initial public offering in Hong Kong, according to an exchange filing on Monday.
The company is offering 19.9 million shares for HK$295.60 per share.
Momenta expects to announce the results of the allocations in the offering by July 7 and anticipates dealings in the class A ordinary shares will commence the next day.
Cornerstone investors for the IPO may feature existing investor Mercedes-Benz MBGn.DE, alongside China’s Boyu Capital and global asset manager BlackRockBLK.N.
Momenta is a supplier of advanced driver-assistance tech, akin to Tesla’s self-driving technology that can navigate urban traffic under human supervision.
Reuters reported on the IPO plan on Tuesday, citing unnamed sources with knowledge of the matter.
($1 = 7.8418 Hong Kong dollars)
Reuters
