IPO Timeline Raw facts
Broker Deadline
Morning deadline
HKEX Deadline
Noon deadline
Broker Results (T-2)
Some brokers release in afternoon
Grey Market (T-1)
Afternoon
HKEX Allotment (T-1)
Evening
Registrar Allotment (T-1)
Evening
Listing Day (T)
First day of trading
Company Overview
| Stock Name | Momenta-W |
|---|---|
| Stock Code | 06880 |
| Company Full Name | MOMENTA GLOBAL LIMITED |
| Industry | Consumer Discretionary |
| Principal Activities | A leading autonomous driving company, focused on the development and commercialization of intelligent driving technologies, including mass-production vehicle solutions (primarily urban NOA) and autonomous taxi service solutions, to enhance safety and efficiency in the mobility and logistics sectors. |
| Listing Date | 2026-07-08 |
| Listing Rules Era | New Rules (after Aug 2025) |
| Listing Rules Chapter | 8A不同投票权 |
| Weighted Voting Rights (WVR) | Yes |
| Registered Address (Mainland China) | 江蘇省蘇州市相城區青龍港路58號天成時代商務廣場23層 |
| Business Address (Hong Kong) | 香港銅鑼灣勿地臣街1號時代廣場二座31樓 |
| Place of Incorporation | Cayman Islands |
| Listing Method | Global Offering |
| Listing Board | Main Board |
| Website | momenta.cn |
| Share Registrar | 宝德隆 |
| Registrar Contact | Tricor |
| A-Share/US Dual Listing | No |
Offering Information
| Offering Mechanism | Mechanism B |
|---|---|
| Offer Price | HK$ 295.60 / shares |
| Offer Price Range | Final offer price only, no range |
| Lot Size | 20 shares |
| Entry Threshold | HK$ 5,912 |
| Par Value | To be extracted |
| Offer Period | 2026-06-29 to 2026-07-03 |
| Global Offering Shares | 19,938,300 shares |
| HK Public Offer Shares (Initial) | 1,993,840 shares (10.0%) |
| Public Offer Lots (Initial) | 99,692lots (Pool A49,846lots，Pool B49,846lots) |
| International Placing Shares (Initial) | 17,944,460 shares (90.0%) |
| Offer Ratio | ~10.0% |
| Total Shares Post-IPO | 235,538,011 shares |
| Greenshoe (Over-allotment Option) | Yes |
| Stabilizing Manager (Greenshoe) | China International Capital Corporation Hong Kong Securities Limited CE AEN894 |
| Cornerstone Share | 49.9% |
| Clawback Tiers | Mechanism B: no clawback mechanism |
| Reallocation Option | Yes |
| Total Global Offering Size | HK$ 5,893,761,480 |
Subscription Tiers
Minimum subscription unit: 1 lot. Subscription amount ≤ HK$5,000,000 is Pool A, > HK$5,000,000 is Pool B.
Pool A
| Lots Subscribed | Shares Subscribed | Subscription Amount (HKD) |
|---|---|---|
| 3 lots | 60 | HK$ 17,736 |
| 4 lots | 80 | HK$ 23,648 |
| 5 lots | 100 | HK$ 29,560 |
| 6 lots | 120 | HK$ 35,472 |
| 7 lots | 140 | HK$ 41,384 |
| 8 lots | 160 | HK$ 47,296 |
| 9 lots | 180 | HK$ 53,208 |
| 10 lots | 200 | HK$ 59,120 |
| 15 lots | 300 | HK$ 88,680 |
| 20 lots | 400 | HK$ 118,240 |
| 25 lots | 500 | HK$ 147,800 |
| 30 lots | 600 | HK$ 177,360 |
| 35 lots | 700 | HK$ 206,920 |
| 40 lots | 800 | HK$ 236,480 |
| 45 lots | 900 | HK$ 266,040 |
| 50 lots | 1,000 | HK$ 295,600 |
| 100 lots | 2,000 | HK$ 591,200 |
| 150 lots | 3,000 | HK$ 886,800 |
| 200 lots | 4,000 | HK$ 1,182,400 |
| 250 lots | 5,000 | HK$ 1,478,000 |
| 300 lots | 6,000 | HK$ 1,773,600 |
| 350 lots | 7,000 | HK$ 2,069,200 |
| 400 lots | 8,000 | HK$ 2,364,800 |
| 450 lots | 9,000 | HK$ 2,660,400 |
| 500 lots | 10,000 | HK$ 2,956,000 |
Pool B
| Lots Subscribed | Shares Subscribed | Subscription Amount (HKD) |
|---|---|---|
| 1,000 lots | 20,000 | HK$ 5,912,000 |
| 1,500 lots | 30,000 | HK$ 8,868,000 |
| 2,000 lots | 40,000 | HK$ 11,824,000 |
| 2,500 lots | 50,000 | HK$ 14,780,000 |
| 3,000 lots | 60,000 | HK$ 17,736,000 |
| 3,500 lots | 70,000 | HK$ 20,692,000 |
| 4,000 lots | 80,000 | HK$ 23,648,000 |
| 4,500 lots | 90,000 | HK$ 26,604,000 |
| 5,000 lots | 100,000 | HK$ 29,560,000 |
| 10,000 lots | 200,000 | HK$ 59,120,000 |
| 15,000 lots | 300,000 | HK$ 88,680,000 |
| 20,000 lots | 400,000 | HK$ 118,240,000 |
| 25,000 lots | 500,000 | HK$ 147,800,000 |
| 30,000 lots | 600,000 | HK$ 177,360,000 |
| 35,000 lots | 700,000 | HK$ 206,920,000 |
| 40,000 lots | 800,000 | HK$ 236,480,000 |
| 45,000 lots | 900,000 | HK$ 266,040,000 |
| 49,846 lots | 996,920 | HK$ 294,689,552 |
Stock Connect Inclusion Analysis
| Inclusion Pathway | Weighted Voting Rights (WVR) |
|---|---|
| Est. Threshold | --- |
| Analysis Result | HK market cap met, expected inclusion ~2027-06-07 |
Valuation & Financials
| Market Cap (at Offer Price) | HK$ 69,606 |
|---|---|
| Pre-IPO Valuation (Last Round) | Not disclosed |
| P/E Ratio | Not applicable (loss-making) |
| Profit/Loss Status | Net loss RMB 3,457.9 million |
| Period-End Cash Balance | RMB 1,306.78 million |
| Listing Expenses | ~HK$ 279 |
| Listing Expenses / Funds Raised | To be extracted |
| Total Pre-IPO Investment | To be extracted |
| First Day Close | HK$ 1.58 |
|---|---|
| First Day Open | HK$ 1.5 |
| First Day Volume | 169384000.0 |
| First Day Turnover | 268007000.0 |
| Use of Proceeds | 1、截至二零一四年三月三十一日止三個年度總估計所得款項凈額約49.6%或45.9百萬港元將用于擴展其中國業務；
2、總估計所得款項凈額約21.6%或20.0百萬港元將用于中國的廣告及宣傳活動；
3、總估計所得款項凈額約11.6%或10.7百萬港元將用作翻新及重新裝修其于香港及澳門的現有零售店；
4、總估計所得款項凈額約8.6%或8.0百萬港元將用作提升研發能力；
5、總估計所得款項凈額約8.6%或8.0百萬港元將用作香港、澳門及中國的信息系統升級。 |
Underwriting Syndicate
Joint Sponsors (2)
Sponsor cum Overall Coordinator (1)
China International Capital Corporation Hong Kong Securities Limited CE AEN894
Overall Coordinators (2)
Joint Global Coordinators (3)
Joint Bookrunners (5)
Joint Lead Managers (5)
Capital Market Intermediaries (5)
Stabilizing Manager (1)
China International Capital Corporation Hong Kong Securities Limited CE AEN894
Service Providers
| Role | Institution |
|---|---|
| Legal Advisor to Company |
Davis Polk & Wardwell 方达律师事务所 Harney Westwood & Riegels 霍金路伟国际律师事务所 |
| Legal Advisor to Sponsors/Underwriters |
Cleary Gottlieb Steen & Hamilton (Hong Kong) 竞天公诚律师事务所 |
| Auditor and Reporting Accountant | 德勤•关黄陈方会计师行 |
| Industry Advisor | 灼识行业咨询有限公司 |
| Compliance Advisor | Somerley Capital Limited CE BAU754 |
| Receiving Banks |
招商永隆银行有限公司 中信银行（国际）有限公司 中国银行（香港）有限公司 Standard Chartered Bank (Hong Kong) Limited |
Cornerstone Investors
| # | Investor Name | Investment Amount | Shares Subscribed | % of Offer Shares | % of Total Shares | Lock-up Period | Est. Unlock Date |
|---|---|---|---|---|---|---|---|
| 1 | GIC | 100 USD | 2,650,760 | 13.29% | 1.13% | 6 months | 2027-01-08 |
| 2 | 富达国际 | 100 USD | 2,650,760 | 13.29% | 1.13% | 6 months | 2027-01-08 |
| 3 | BlackRock | 25 USD | 662,680 | 3.32% | 0.28% | 6 months | 2027-01-08 |
| 4 | 梅赛德斯—奔驰集团 | 25 USD | 662,680 | 3.32% | 0.28% | 6 months | 2027-01-08 |
| 5 | Oaktree | 20 USD | 530,140 | 2.66% | 0.23% | 6 months | 2027-01-08 |
| 6 | 金兴 | 15 USD | 397,600 | 1.99% | 0.17% | 6 months | 2027-01-08 |
| 7 | Franklin Templeton | 10 USD | 265,060 | 1.33% | 0.11% | 6 months | 2027-01-08 |
| 8 | Boyu | 10 USD | 265,060 | 1.33% | 0.11% | 6 months | 2027-01-08 |
| 9 | 高毅实体 | 10 USD | 265,060 | 1.33% | 0.11% | 6 months | 2027-01-08 |
| 10 | CPIC | 10 USD | 265,060 | 1.33% | 0.11% | 6 months | 2027-01-08 |
| 11 | 广发基金 | 10 USD | 265,060 | 1.33% | 0.11% | 6 months | 2027-01-08 |
| 12 | 华夏基金（香港） | 10 USD | 265,060 | 1.33% | 0.11% | 6 months | 2027-01-08 |
| 13 | 苏州魔速 | 25 USD | 656,060 | 3.29% | 0.28% | 6 months | 2027-01-08 |
| 14 | 兆易创新 | 6 USD | 159,040 | 0.80% | 0.07% | 6 months | 2027-01-08 |
Directors & Management
| Position | Chinese name | English Name |
|---|---|---|
| Chairman / Executive Director | 曹旭東 | CAOXudong |
| Company Secretary | 邵永球、黃俊穎 | — |
| Non-Executive Director | 張堅俊 | ZHANGJianjun |
| Independent Non-Executive Director | 封和平 | FENGHeping |
| Executive Director | 夏炎 | XIAYan |
| Non-Executive Director | 王小鷗 | WANGGlideXiaoOu |
| Independent Non-Executive Director | 魏裕 | WEIYu |
| Executive Director | 孫剛 | SUNGang |
| Non-Executive Director | Fabian Johannes Thomas | |
| Independent Non-Executive Director | 李東 | LIDong |
| Executive Director | 孫環 | SUNHuan |
| Independent Non-Executive Director | 邵鈺 | SHAOYu |
| Executive Director | 安韌 | ANRen |
Major Shareholders
| Major Shareholders & Holdings | Cao Xudong, Xia Yan, Sun Gang, Sun Huan and other persons acting in concert in aggregate hold approximately 14.85% of the equity interests and control approximately 59.85% of the voting rights; ZJSmart Holdings Limited holds 8.65%; General Motors Holdings LLC holds 8.58%; and Mercedes-Benz Group holds 6.13%. |
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