(Il Sole 24 Ore Radiocor) - Milano, 19 giu - General Motors-backed Momenta is set to raise about 1 billion dollars in an initial public offering in Hong Kong, the Wall Street Journal reported, citing people familiar with the matter.

The Chinese autonomous-driving company's valuation has reached around 9 billion dollars, the people told the WSJ.

According to a notice dated June 10 and published Thursday by the China Securities Regulatory Commission, Momenta plans to offer up to 43.75 million shares in its Hong Kong offering.

The regulator has approved the submission based on the materials provided by the company.

The Suzhou, Jiangsu-based company is also backed by Toyota.

Motor and SAIC Motor.

(RADIOCOR) 19-06-26 16:19:41 (0413) 5 NNNN