A Chinese startup developing unmanned technologies, Momenta Global Ltd., expects to raise $750-800 million as part of an IPO in Hong Kong. This is reported by foreign media.
In April, Momenta Global attracted China International Capital Corp. and Deutsche Bank AG to assess investor interest in the proposed listing. In addition, Mercedes-Benz AG and Singapore-based investment fund GIC Pte are acting as key investors in the IPO with the aim of increasing the company's market value to $9 billion from $5 billion in 2025.
Fidelity International Ltd. and BlackRock Inc. have also expressed interest in the IPO of Momenta, controlled by General Motors Co. and the Chinese Internet company Tencent Holdings Ltd. General Motors invested $300 million in Momenta in 2021 to accelerate the development of technologies for the production of self-driving cars in China.
Previously, Momenta considered listing in the United States and in 2024 submitted a confidential IPO application with the participation of CICC, Goldman Sachs Group Inc. and UBS Group AG, but then abandoned these plans.
Momenta Global is a Chinese self—driving technology company headquartered in Suzhou, China. The company supplies technologies for production vehicles and robotaxi services.
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