Sources say: China's Momenta Weighs Moving IPO from New York to Hong Kong

The potential venue change follows the June expiration of Momenta's approval from China’s securities regulator to list in the U.S. an authorization originally granted in mid-2024, public records show.

Momenta, a leading developer of advanced driver-assistance systems (ADAS) comparable to Tesla’s self-driving features, recently told some investors it may aim for a Hong Kong listing in 2026, two of the sources said. However, they emphasized that the plan remains in early stages and is subject to change.

The Shanghai- and Beijing-based company is currently nearing the completion of a pre-IPO fundraising round, two sources added. One of them noted that automakers including Mercedes-Benz and Hyundai are expected to participate in the round.
 

Backed by major investors such as Toyota Motor and Bosch, Momenta is seen as a key player in China’s race to commercialize autonomous driving technologies.

Details of the IPO including the timeline, deal size, and valuation are yet to be finalized, the sources said. All requested anonymity due to the confidential nature of the discussions.
 

In a statement, Momenta denied it had made any final decision regarding its IPO or listing venue. “Any suggestion that Momenta has informed investors of a confirmed plan to list in Hong Kong in 2026 is untrue,” the company said. It also refuted claims about an ongoing pre-IPO fundraising round or the involvement of specific investors.
 

Hong Kong Exchanges and Clearing Ltd (HKEX) declined to comment on individual companies. The China Securities Regulatory Commission (CSRC) did not respond to a request for comment.

Hyundai, when asked about its ties to Momenta, said it sees “a compelling use case” for collaboration in China around the company’s autonomous driving capabilities, without elaborating. Mercedes-Benz did not respond to a request for comment.