Momenta successfully debuted on the Main Board of the Hong Kong Stock Exchange on July 8, 2023, with an offer price set at HKD 295.6 (USD 37.7) per share, according to KrASIA. The global offering included approximately 22.93 million shares, generating gross proceeds of about HKD 6.8 billion (USD 867.1 million).
The public portion of the offering was highly oversubscribed, with demand exceeding 414 times, while the international offering was subscribed around 44 times before factoring in cornerstone investors and the greenshoe option. Institutional orders surpassed HKD 100 billion (USD 12.8 billion), attracting sovereign and long-term funds from 15 countries and regions, KrASIA reported.
This strong investor appetite reflects growing interest in innovative tech firms across Asia, a trend also impacting Japanese markets where investors are increasingly seeking exposure to global growth sectors including autonomous driving and AI technologies.