AI Summary
Momenta Global Ltd., an autonomous-driving company backed by General Motors and Tencent, has begun its initial public offering in Hong Kong. The firm plans to raise approximately $752 million by offering nearly 19.9 million shares at HK$295.60 each, which would value the company at nearly $9 billion.
- Momenta Global Ltd. is seeking to raise HK$5.9 billion ($752 million) through its Hong Kong IPO.
- The company is offering about 19.9 million shares at a price of HK$295.60 each.
- Momenta is based in Suzhou and is backed by General Motors Co. and Tencent Holdings Ltd.
- If successful, the IPO would value Momenta at nearly $9 billion.
self-drivingautonomous vehiclesIPOinvestmentHong Kong