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China Autonomous Driving Company Momenta Passes Listing Hearing in Hong Kong

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Chinese self-driving technology company Momenta released its post-hearing information pack Tuesday after passing its listing hearing in Hong Kong.

The move brings Momenta closer to its IPO in the city.

Momenta plans to use proceeds from its planned IPO to boost research and development, increase artificial intelligence computing and data storage capacity, as well as commercialization of its robotaxi services, joint marketing initiatives, and working capital, according to a near-final prospectus released the same day.

Momenta secured approval for its IPO from Chinese authorities, according to a notice by the regulator on Thursday.

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