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The Hangzhou-based humanoid robot maker is set to become the first onshore-listed humanoid robot company in mainland China
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Unitree Robotics opened subscriptions for its initial public offering on the Shanghai Stock Exchange's STAR Market on Monday, with the $900 million offering more than 8,000 times oversubscribed by retail investors, the company said.
According to Reuters, Unitree set its share price at 150.80 yuan (about $22), placing the company's total valuation above 60 billion yuan. In a regulatory filing, Unitree disclosed that retail investors faced odds of approximately 0.018% of receiving shares, following a partial reallocation away from the institutional portion of the deal.
