Momenta submits overseas IPO application to CSRC for listing in the US

Beijing (Gasgoo)- On June 17, according to China Securities Regulatory Commission (CSRC)’s website, the CSRC has received the overseas listing application materials from the autonomous driving solution developer Momenta Global Limited, submitted via its domestic operating entity, Momenta (Suzhou) Technology Co., Ltd.

Photo credit: Momenta

Momenta plans to issue up to 63,352,900 ordinary shares and list on the Nasdaq Stock Market or the New York Stock Exchange. In May, reports surfaced that Momenta had secretly filed for an initial public offering (IPO) in the U.S., with insiders revealing that the company was working with China International Capital Corporation (CICC), Goldman Sachs, and UBS on the potential listing. The IPO could raise between $200 million and $300 million, with a listing as early as this year.

As a leading player in China's autonomous driving sector, Momenta has established a significant advantage in key technologies such as autonomous driving algorithms and sensor fusion. In April 2024, Momenta launched an advanced intelligent driving solution based on the NVIDIA DRIVE Orin chip, offering full-scenario urban navigation assistance with an optimized bill of materials (BOM) cost. This solution does not rely on high-definition maps, enabling "nationwide coverage, drive anywhere."

Momenta has secured mass production partnerships with half of the world's top ten automotive groups, extending its business reach to China, Germany, Japan, the United States, and other international markets.