Momenta Seeks $752 Million in Hong Kong IPO as Share Sales Hit Multiyear High
Updated
Updated · Bloomberg · Jun 29
Momenta Seeks $752 Million in Hong Kong IPO as Share Sales Hit Multiyear High
2 articles · Updated · Bloomberg · Jun 29
Summary
HK$5.9 billion ($752 million) is the target as Momenta began taking investor orders for its Hong Kong initial public offering on Monday.
HK$295.60 a share is the offer price for about 19.9 million shares, implying a valuation of nearly $9 billion for the Suzhou-based autonomous-driving company.
General Motors-backed and Tencent-backed Momenta is launching the deal to capitalize on a multiyear high in Hong Kong share sales.
The offering adds to a broader revival in the city's IPO market, with issuers moving quickly to tap stronger investor demand.