Shares: Unitree with a sensational stock market debut
On Wednesday, the Chinese robot manufacturer started trading on Shanghai's technology stock exchange. The IPO shows that China's financial hubs are booming again. However, the initial public offerings are state-controlled - and the path to New York is effectively blocked.
Unitree, a Chinese humanoid robot manufacturer, saw its shares surge by around 630 percent on its Shanghai stock market debut. The company, based in Hangzhou, raised 6.1 billion Yuan, or approximately 783 million Euros. Unitree's initial public offering was oversubscribed 5526 times, with the company's shares priced at 150.80 Yuan and trading at 1100 Yuan after the market opened.
The company is considered a flagship of China's robotics industry, which is expected to grow significantly, with predictions that the global robotics market could reach 2.5 trillion US dollars by 2035.
Written by urgent.news from Handelsblatt's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
