Unitree Robotics to Debut in Shanghai After $904 Million IPO

MT Newswires Live

08/19

Unitree Robotics is set to begin trading in Shanghai Wednesday after raising 6.1 billion yuan ($904 million) in an IPO, making it the first publicly traded humanoid robot maker in mainland China, Bloomberg reported Tuesday.

The Hangzhou-based company, officially Yushu Technology Co., sold 40.4 million shares at 150.8 yuan apiece, valuing it at about 61 billion yuan, the report said.

The retail portion of the offering was 5,526 times subscribed, according to Bloomberg calculations based on exchange filings, with Unitree's retail order book exceeding the 7.07 trillion yuan generated by CXMT Corp.'s offering last month.

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