Unitree Robotics’ initial public offering has reportedly been oversubscribed more than 5,000 times as investors scramble for shares in one of China’s best-known humanoid robot manufacturers.
The Hangzhou-based company priced its IPO at 150.8 yuan ($22.4) per share, raising approximately $900 million and giving Unitree a valuation of around $9 billion, according to CNBC.
Demand for the online retail tranche of the Shanghai STAR Market offering exceeded the number of available shares by more than 5,000 times, resulting in an allocation rate of just 0.018 percent. [Read more…] about Unitree IPO oversubscribed more than 5,000 times as investors pile into humanoid robotics