While Unitree Robotics’ early backers are poised for a windfall in one of China’s most closely watched technology initial public offerings (IPOs), retail investors are scrambling for a tiny chance of securing shares.Nearly 9.8 million accounts competed in the Hangzhou-based robot maker’s online subscription process on Monday, fighting for just 9.7 million shares, its filings in the evening showed.The final online allocation rate was just 0.018 per cent – roughly one winning lot for every 5,500 applications.On Shanghai’s Star Market, each winning IPO lot comprises 500 shares, while investors’ application quotas depend on their eligible Shanghai-market holdings. Winners are chosen at random.Valid online subscriptions reached 53.64 billion shares, or 8,288.82 times the 6.47 million shares initially reserved for online investors. That triggered a clawback mechanism, boosting the retail tranche to 9.7 million shares.The odds of securing Unitree shares are markedly slimmer than in several other recent blockbuster technology listings. Memory-chipmaker ChangXin Memory Technologies, known as CXMT, had a final online allocation rate of about 0.47 per cent in its July IPO, which attracted more than 9.4 million accounts.