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GM-Backed Self-Driving Firm Momenta Seeks $752 Million From Hong Kong Listing
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GM-Backed Self-Driving Firm Momenta Seeks $752 Million From Hong Kong Listing Autonomous-driving firm Momenta Global Ltd. started taking investor orders for its Hong Kong initial public offering to raise HK$5.9 billion ($752 million), pouncing on a multiyear high for share sales in the city. The Suzhou-based company, which is backed by General Motors Co. and Tencent Holdings Ltd., is offering about 19.9 million shares at HK$295.60 each, according to its listing document dated Monday. At that...
GM-Backed Self-Driving Firm Momenta Seeks $752 Million From Hong Kong Listing
Autonomous-driving firm Momenta Global Ltd. started taking investor orders for its Hong Kong initial public offering to raise HK$5.9 billion ($752 million), pouncing on a multiyear high for share sales in the city.
The Suzhou-based company, which is backed by General Motors Co. and Tencent Holdings Ltd., is offering about 19.9 million shares at HK$295.60 each, according to its listing document dated Monday. At that price, the company would be valued at the equivalent of nearly $9 billion, it said.