Chinese autonomous-driving start-up Momenta drew massive subscription numbers for its HK$5.89 billion (US$751 million) initial public offering in Hong Kong, even as it competed against five other issuers launching their IPOs at the same time.
The Suzhou-based company’s bookbuilding closed on Friday. Preliminary figures showed that it attracted nearly 210,000 subscription applications, with the public offering subscribed 414 times, according to people familiar with the matter.
Sponsored by China…
