Momenta

Momenta completed its Hong Kong IPO and began trading on the HKEX main board on July 8, 2026 under stock code 6880. The company priced ~19.94 million Class A shares at HK$295.60 each for gross proceeds of HK$5,893.8 million (~US$751 million). The over-allotment option was NOT exercised: the overall coordinators ended stabilisation at the close of the 30-day period on August 2, 2026 and let the option lapse, having over-allocated ~2,990,740 shares (~15% of the offer), so the widely quoted ~HK$6.8 billion (~US$865 million) full-greenshoe figure never materialised and HK$5,893.8 million is the final raise. CICC and Deutsche Bank acted as joint sponsors. The retail tranche was ~413.6x oversubscribed and institutional orders exceeded HK$100 billion; 14 cornerstone investors committed ~US$376 million, including GIC (US$100M), Fidelity International (US$100M), BlackRock (US$25M), Mercedes-Benz (US$25M), Oaktree (US$20M) and BYD's Golden Link (US$15M), taking roughly half the offering under lock-up. Shares opened at HK$301 and traded up ~2-3% on debut, for a market capitalisation of about HK$70.9 billion (~US$9 billion), versus ~HK$69.6 billion at the offer price. The listing values Momenta roughly 33% above the US$25.28 per-share price of its Series C-13 round, which closed on December 15, 2025 at a US$6.185 billion post-money valuation. Founders and management retain control through Class B weighted-voting shares. Uber, via SMB Holding, was allotted 397,600 IPO shares on top of the 791,055 Series C-13 preferred shares it already held, taking its stake to ~1.19 million shares (~HK$351 million / ~US$45 million at the offer price). First results as a listed company, published August 31, 2026, showed first-half revenue up 75.9% year on year to RMB 1.60 billion, gross margin of 73.2% and an adjusted non-IFRS loss of RMB 14.1 million, against RMB 10.3 billion of cash and no outstanding borrowings. Three unsponsored American depositary receipt programmes have since been registered with the SEC on Form F-6EF: by Citibank, N.A., filed August 4, 2026 and effective August 18, 2026; by Deutsche Bank Trust Company Americas, filed August 11, 2026 and effective the same day, August 18, 2026; and by The Bank of New York Mellon, filed August 24, 2026 and effective immediately on filing. Each ADS represents one-half of one ordinary share. All three were established by the depositary banks rather than by Momenta and give US investors over-the-counter access without a US listing. The path here ran from an abandoned New York listing (CSRC filing June 2024, approval lapsed 2025) to a confidential Hong Kong filing in March 2026 and the June 29, 2026 prospectus.

Momenta shares can be purchased through any standard brokerage account — including Fidelity, Charles Schwab, TD Ameritrade, and online platforms like Robinhood or E*TRADE. Search for the ticker to place an order.

Momenta went public in Dec 2025 via ipo, with an offering valuation of approximately $6.18B. Momenta completed its Hong Kong IPO and began trading on the HKEX main board on July 8, 2026 under stock code 6880. The company priced ~19.94 million Class A shares at HK$295.60 each for gross proceeds of HK$5,893.8 million (~US$751 million). The over-allotment option was NOT exercised: the overall coordinators ended stabilisation at the close of the 30-day period on August 2, 2026 and let the option lapse, having over-allocated ~2,990,740 shares (~15% of the offer), so the widely quoted ~HK$6.8 billion (~US$865 million) full-greenshoe figure never materialised and HK$5,893.8 million is the final raise. CICC and Deutsche Bank acted as joint sponsors. The retail tranche was ~413.6x oversubscribed and institutional orders exceeded HK$100 billion; 14 cornerstone investors committed ~US$376 million, including GIC (US$100M), Fidelity International (US$100M), BlackRock (US$25M), Mercedes-Benz (US$25M), Oaktree (US$20M) and BYD's Golden Link (US$15M), taking roughly half the offering under lock-up. Shares opened at HK$301 and traded up ~2-3% on debut, for a market capitalisation of about HK$70.9 billion (~US$9 billion), versus ~HK$69.6 billion at the offer price. The listing values Momenta roughly 33% above the US$25.28 per-share price of its Series C-13 round, which closed on December 15, 2025 at a US$6.185 billion post-money valuation. Founders and management retain control through Class B weighted-voting shares. Uber, via SMB Holding, was allotted 397,600 IPO shares on top of the 791,055 Series C-13 preferred shares it already held, taking its stake to ~1.19 million shares (~HK$351 million / ~US$45 million at the offer price). First results as a listed company, published August 31, 2026, showed first-half revenue up 75.9% year on year to RMB 1.60 billion, gross margin of 73.2% and an adjusted non-IFRS loss of RMB 14.1 million, against RMB 10.3 billion of cash and no outstanding borrowings. Three unsponsored American depositary receipt programmes have since been registered with the SEC on Form F-6EF: by Citibank, N.A., filed August 4, 2026 and effective August 18, 2026; by Deutsche Bank Trust Company Americas, filed August 11, 2026 and effective the same day, August 18, 2026; and by The Bank of New York Mellon, filed August 24, 2026 and effective immediately on filing. Each ADS represents one-half of one ordinary share. All three were established by the depositary banks rather than by Momenta and give US investors over-the-counter access without a US listing. The path here ran from an abandoned New York listing (CSRC filing June 2024, approval lapsed 2025) to a confidential Hong Kong filing in March 2026 and the June 29, 2026 prospectus.

Momenta raised $2.5B across 20 disclosed funding rounds prior to its public listing.

Momenta was founded by Cao Xudong in 2016.

Momenta is headquartered in Suzhou, Jiangsu, China.