Momenta Global Ltd., the autonomous-driving company backed by General Motors, has opened its Hong Kong initial public offering to investors. The firm aims to raise HK$5.9 billion ($752 million) through the listing, marking a significant capital raise for the self-driving technology sector.

The offering comes as Momenta capitalizes on strong investor appetite for technology stocks in Hong Kong. General Motors' backing provides the company with strategic support as traditional automakers accelerate their autonomous vehicle initiatives globally.

Hong Kong is experiencing its busiest period for share sales in years, creating favorable conditions for Momenta's debut. The city has become an increasingly popular destination for Chinese tech companies seeking capital markets access amid geopolitical tensions.

This IPO reflects growing confidence in autonomous driving technology's commercial viability. For GM, the investment represents a strategic bet on future mobility trends as the automotive industry pivots toward software-defined vehicles and automated transportation services.