Momenta's cornerstone investors in Hong Kong IPO reportedly include Mercedes-Benz and Singapore's GIC.

According to sources familiar with the matter, the autonomous driving startup Momenta Global Ltd. has brought in Mercedes-Benz Group and Singapore government investment company as cornerstone investors for its Hong Kong IPO. Sources said that Fidelity International and BlackRock are in discussions to become cornerstone investors. Momenta plans to raise approximately $750-800 million through this IPO, with about half of the issued shares allocated to cornerstone investors. Momenta is considering seeking a post-IPO valuation of around $9 billion and may launch the IPO as soon as next Monday. Sources said that discussions are still ongoing and the details of the issuance plan may still change.