General Motors (GM)-backed Momenta has initiated an initial public offering in Hong Kong to raise 5.89 billion Hong Kong dollars ($751.5 million), the company said in its listing document dated Monday.
The supplier of vehicle technology and robotaxi systems is offering about 19.9 million shares at HK$295.60 each, it said.
Net proceeds will be used for research and development, business expansion, and working capital and general corporate purposes, the company said.
Shares are expected to debut in Hong Kong on July 8.
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