Chinese robotics company Unitree has priced its initial public offering at a valuation of approximately $9 billion, becoming the country’s first mainland-listed humanoid robot manufacturer and highlighting growing investor interest in AI-powered robotics despite rising geopolitical tensions.
The Hangzhou-based company said it has priced its Shanghai STAR Market IPO at 150.8 yuan ($22.34) per share, giving it a valuation of around 61 billion yuan ($9.04 billion).
This is according to reports on the CNBC and Investor’s Business Daily websites.
The company is selling 40.45 million new shares, representing 10 percent of its enlarged share capital, with plans to raise about 6.1 billion yuan ($900 million). IPO subscriptions are scheduled to open on August 10. [Read more…] about Unitree targets $9 billion valuation in landmark IPO as humanoid robot race accelerates