China: Rush for Unitree shares before IPO
China's most well-known robot manufacturer abroad, Unitree, is meeting with enormous demand from private investors. The stock is more than 8,000 times oversubscribed. Trading is likely to start soon.
China's Unitree robotics firm faces a rush on its shares ahead of its debut on the Shanghai stock market. Chinese investors have shown overwhelming enthusiasm, ordering more than 8,000 times the number of shares available, according to Beijing's bourse. Unitree aims to raise more than six billion Yuan, approximately 770 million Euros, through the IPO.
The company manufactures humanoid robots and is based in Hangzhou, a short train ride from Shanghai. The STAR Market, where the share trading will commence, is expected to open within the current month. Unitree is one of China's most renowned robotics companies, aiming to showcase its capabilities in Artificial Intelligence (AI) on the global stage.
The firm is part of the country's "six little dragons" of emerging technology enterprises. Chinese consumers have embraced the robots, featuring them frequently on state television. Chancellor Friedrich Merz visited Unitree during his first official trip to China in February. Humanoid robots are considered a key technology, with China home to numerous robotics startups, including Unitree, Deep Robotics, and others.
These companies are developing humanoid robots for potential applications in industry, logistics centers, caregiving, and private households. Apart from Chinese firms, US electric vehicle manufacturer Tesla, led by Elon Musk, is also working on a humanoid robot called Optimus.
Written by urgent.news from Handelsblatt's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
