Chinese robot maker Unitree ready for Shanghai debut after IPO

Unitree, the Chinese maker of humanoid robots, is set to commence trading on Shanghai’s STAR Market next week after raising 6.1 billion yuan ($905 million). The listing could create a functioning market from the hype of China’s robotics boom.

Investors wanted massively into the IPO, with retail applications coming in at over 5,000 times the available shares. This level of oversubscription set a record for technology listings on Shanghai’s STAR Market.

The company priced its shares at 150.8 yuan ($22) and sold about 10% of its enlarged share capital, drawing a valuation of around $9 billion, according to CNBC.

Private markets are pricing massive first-day increase

Off-exchange platforms are already putting Unitree well above the IPO price before a single share has even traded on the exchange. EquityZen, UpMarket and Hiive all suggest the stock could nearly triple, according to Reuters. Hiive priced Unitree at about $62 on Friday morning, which would be a gain of about 176% more than the IPO price.

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