Momenta may seek to raise at least US$1 billion in the IPO, the people said, adding that deliberations are ongoing and no final decisions have been made. Other banks may be added later, they said.
(March 5): Beijing Momenta Technology Co has filed confidentially for an initial public offering (IPO) in Hong Kong, according to people familiar with the situation, adding to a flurry of share sales in the Asian financial hub.
The autonomous driving tech startup, which is backed by General Motors Co and Tencent Holdings Ltd, is working with China International Capital Corp (CICC) and Deutsche Bank AG on the listing, the people said, asking not to be identified discussing a private matter. The company has been meeting investors to gauge initial interest in the offering, the people said.
