Chinese humanoid robot maker Unitree is heading for the Shanghai stock market next week, with investors showing extraordinary demand ahead of its highly anticipated debut.
The exact trading date is expected to be announced on Friday, August 14, according to the latest report.
Unitree has already priced its IPO at 150.8 yuan per share, raising about 6.1 billion yuan ($905 million) and valuing the company at more than $9 billion
The IPO was more than 8,000 times oversubscribed by retail investors, setting a record for Shanghai’s STAR Market for technology startups.
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The excitement has already pushed expectations well above the IPO price, with private-market and derivative trading pointing to potentially sharp gains when the shares begin trading.
Unitree has gained global attention for humanoid robots capable of running, dancing and performing martial arts.
The company is also already profitable, setting it apart from many emerging robotics firms.
Its Shanghai listing will make Unitree the first general-purpose humanoid robotics company to debut on mainland China’s stock market, putting the spotlight on both the company and China’s rapidly expanding robotics sector.
About the Author
Cecilia Attah is a tech analyst with a degree from Benue State University. She covers tech news and startups at TechRegard with a focus on how technology is transforming Africa and shaping the global landscape.
