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X Square Robot files confidentially for Hong Kong IPO
The Shenzhen-based company has named Huatai Securities and Morgan Stanley as sponsors for its planned Hong Kong float.
China’s X Square Robot has submitted a confidential filing for an initial public offering in Hong Kong, according to two sources familiar with the matter, a sign of continued capital-market interest from domestic robotics makers. The filing comes even as new US trade restrictions remain a backdrop for the sector, SCMP Economy reported.
The Shenzhen-based start-up has tapped Huatai Securities and Morgan Stanley as sponsors for the prospective share sale, though X Square and Morgan Stanley declined to comment and other parties did not respond to requests for comment. The Hong Kong Exchanges and Clearing said it does not comment on individual companies, SCMP Economy noted.
SCMP Economy said an expanding roster of Chinese robotic companies is pursuing IPOs this year, including Unitree Robotics, which began price consultations on Wednesday for a flotation on Shanghai’s Star Market. Unitree Robotics plans to sell 40.45 million shares, or 10.0 percent of its enlarged share capital.