Momenta has confidentially filed for an initial public offering in Hong Kong, according to people familiar with the matter. The autonomous driving startup is working with China International Capital Corp. (CICC) and Deutsche Bank on the planned listing.
The company may seek to raise at least $1 billion in the offering, though deliberations are ongoing and no final decisions have been made. Momenta said there have been market rumors about a potential listing but declined to comment on capital markets matters. Deutsche Bank declined to comment, while CICC did not respond to requests for comment.
Founded in 2016, Momenta develops autonomous driving technology and is backed by investors including General Motors and Tencent. The startup was valued at more than $5 billion in a funding round last year and previously confidentially filed for a US IPO in 2024 that has since lapsed. [Bloomberg]
Related
