(Reuters) -The developer of the Chinese autonomous driving Momenta is considering moving its opi to Hong Kong from New York, four people said, which adds to a growing list of Chinese companies that choose to debut in the Asian financial center amid US -China tensions.
The potential change in the Momenta Listing place occurs after the expiration in June of an approval of the China Stock Regulator to list in the United States, which was granted in the middle of the year, according to the regulator’s website.
Momenta is a leading Chinese provider of system characteristics assisted with advanced driving, similar to Tesla’s self -control technology that can navigate urban traffic under the supervision of human conductors.
The company recently informed some of its investors about its potentially listing plan in Hong Kong in 2026, two of the people said, and added that the plan, which has not been previously informed, is at an early stage and is subject to changes.
Moment, backed by investors such as Toyota Motor and Auto Parts Provy Bosch, is considering a change in the place of the list, since it approaches the completion of a fund collection round prior to the opi, said two of the people.
One of them said that the round is expected to involve investors, including Mercedes-Benz and Hyundai.
The details of the OPI, such as the timeline, the size offer and the assessment have not yet been completed, people said.
All sources refused to be identified since the plan is not yet public.
Momenta said he has not made any final decision regarding OPI’s plans, including the list of listing.
“Any suggestion that Momenta has informed the investors of a confirmed plan to list in Hong Kong in 2026 is false,” said the company, added that it has not announced or confirmed any round of collection of funds prior to the OPI or its participants.
Hong Kong Exchange and Clearing Ltd (HKEX), the city’s exchange operator, declined to comment on individual companies.
The Chinese Securities Regulatory Commission (CSRC) did not respond to the Reuters request for comments on the potential change of Momenta of the list of list.
Mercedes-Benz did not respond to a consultation to comment. Hyundai said there is “a convincing use case” to collaborate with Momenta in China for his robust autonomous driving technology, without elaboration.
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The possible change in Momenta’s listed place underlines Hong Kong’s position as the main place of collection of funds on the high seas for Chinese companies in the midst of the threat of US legislators to eliminate Chinese companies from US exchanges.
The greatest commercial tensions between China and the United States have also led to a growing number of Chinese companies to favor Hong Kong for listings during the past year.
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