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Unitree Robotics jumps 629% in Shanghai debut after humanoid IPO

The stock opened at 1,100 yuan and later fell below 900 yuan in early trading, as nearly 9.8 million retail accounts competed for 9.7 million online shares.

Reported · Written up by our desk · China

Shares of Unitree Robotics surged 629% above its IPO price in its Shanghai trading debut on Wednesday, opening at 1,100 yuan and valuing the humanoid robot maker at about 445 billion yuan, or US$66 billion, according to SCMP Economy.

After the initial pop from the IPO price of 150.80 yuan, the shares pulled back and dropped below 900 yuan per share in early morning trading, the outlet reported.

Unitree’s first mainland listing for a humanoid robot maker came as the World Robot Conference opened in Beijing, running from Wednesday to Sunday and featuring product launches, industry forums, and robot contests.

SCMP Economy also reported that nearly 9.8 million retail investment accounts competed for just 9.7 million shares in the online tranche, leaving a final allocation rate of only 0.018%.

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