Momenta listed on the Main Board of the Hong Kong Stock Exchange on July 8, giving public market investors a new way to bet on physical artificial intelligence, a category of AI systems built to perceive, reason, and act in the physical world.
Based on its offer price of HKD 295.6 (USD 37.7) per share, and assuming the greenshoe option, or overallotment option, is exercised in full, Momenta’s global offering comprises about 22.93 million shares, raising gross proceeds of about HKD 6.8 billion (USD 867.1 million). The public offering was more than 414 times subscribed, while the international offering was about 44 times subscribed, excluding cornerstone investors and before the greenshoe option. Institutional orders exceeded HKD 100 billion (USD 12.8 billion), covering sovereign and long-term funds from 15 countries and regions.
Momenta’s anchor investors include global institutions such as GIC, Fidelity International, BlackRock, Franklin Templeton, Abu Dhabi Investment Authority, Canada Pension Plan Investment Board, Temasek, Wellington, and Schroders. Chinese long-term capital also participated, reinforcing the company’s positioning in China’s smart mobility market.
Subscriptions from long-term capital alone exceeded the offering size by more than 15 times, according to Momenta. The company also introduced 14 institutions as cornerstone investors, with total cornerstone subscriptions of about HKD 3 billion (USD 382.6 million), or about USD 376 million. The investor lineup includes international long-term funds, sovereign wealth funds focused on long-cycle value growth, strategic industry investors, and Chinese long-term institutions.
