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Unitree humanoid robot maker set for hot Shanghai STAR Market debut
The IPO was more than 8,000 times oversubscribed, and private-share trading expectations range from nearly tripling to about four times on derivative platforms.
Unitree, Chinas high-profile humanoid robot maker, is expected to have a highly active debut on Shanghais STAR Market next week, with private-share trading platforms pointing to shares nearly tripling and crypto exchanges implying derivative activity could jump by almost four times. Reuters reports that demand for the IPO was extreme, with it more than 8,000 times oversubscribed by retail investors, a record for Shanghai STAR Market tech startups. Chinese media also said some lucky subscribers were approached by scalpers offering to buy shares at 410 yuan, about a 170% premium to the 150.8 yuan offering price.
Unitree, which builds robots known for running, dancing, and martial arts performances, is not the first Chinese humanoid robot maker to list, but it is described as the worlds biggest humanoid-robot maker by sales and the first general-purpose robotics company to debut in mainland China. The company also is already profitable, a factor cited by investors following the listing.
Unitree raised 6.1 billion yuan, or about $905 million, by selling 10% of its enlarged capital in the IPO. Analysts and market participants are also watching for a blockbuster debut, including the context of recent strength in other Shanghai listings, such as shares in chipmaker CXMT that surged more than five times in its debut.