Market Chatter: Mercedes-Benz-Backed Momenta to Launch Hong Kong IPO in Late June

MT Newswires Live06-24

Chinese autonomous driving technology developer Momenta is preparing to launch its initial public offering in Hong Kong on June 29, Reuters reported Tuesday, citing people with knowledge of the matter.

The company is in the final stages of selecting IPO cornerstone investors, which could include existing investor Mercedes-Benz, as well as Boyu Capital and Oaktree Capital Management, the report said.

Momenta could raise about $900 million from the IPO, valuing the company at roughly $9 billion. It is targeting to price its offering on July 3 and make its trading debut on the Hong Kong bourse on July 8, the report said.

Momenta did not immediately reply to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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