Unitree raises $904 million in Shanghai IPO after 5,526x demand
What's new: 9.8 million retail orders poured into the deal, giving China’s first listed humanoid robot maker a roughly $9 billion valuation.
Unitree Robotics raised about 6.1 billion yuan, or $904 million, in its Shanghai initial public offering after the retail tranche was oversubscribed 5,526 times, according to an exchange filing. The Hangzhou-based company, formally known as Yushu Technology, sold 40.4 million shares at 150.8 yuan each and is set to become mainland China’s first publicly traded humanoid robot maker when it starts trading on the Star Market this month. About 20% of the offering went to strategic investors including DeepSeek, a Tencent Holdings-affiliated investment vehicle, and units of China National Petroleum Corp, China Southern Power Grid Co. and China Telecom Corp.