Unitree IPO 5,526 times subscribed by retail investors
The high level of interest underscores the investor appetite for physical AI companies, one of Beijing’s strategic priorities.
Unitree Robotics' highly anticipated IPO drew overwhelming interest from retail investors, with the retail portion of the offering being 5,526 times subscribed. This significant demand is a testament to the investor appetite for physical AI companies, a strategic priority for China's government. The company, officially known as Yushu Technology and based in Hangzhou, sold 40.4 million shares at 150.8 yuan each, raising approximately 6.1 billion yuan.
This successful fundraising allowed Unitree to become mainland China's first publicly traded humanoid robot maker. The IPO, which is expected to debut on Shanghai’s STAR Market in August, was allocated 20 percent to strategic investors, including DeepSeek, a Tencent-affiliated investment vehicle, and state-owned enterprises like China National Petroleum, China Southern Power Grid, and China Telecom.
DeepSeek received a 2.31 percent stake allocation with a three-year lockup period. The collaboration between Unitree and DeepSeek aims to leverage DeepSeek's AI expertise to develop embodied-intelligence models for Unitree’s humanoid robots. This partnership gained significant public attention after Unitree’s robots performed at the Chinese Spring Festival Gala.
A successful listing could set a precedent for other Chinese robotics companies looking to go public, such as Leju Robotics and Deep Robotics.
Written by urgent.news from Straits Times Business's reporting — not their text. Machine-written — it may contain errors, so check the original before relying on it.
