Advertisement
IPO
BusinessBanking & Finance

China’s Unitree Robotics completes pre-IPO tutoring for onshore listing

The unicorn is reportedly aiming for a valuation of up to US$7 billion in a listing on Shanghai’s Nasdaq-style Star Market

Reading Time:2 minutes
Why you can trust SCMP
A Unitree robot seen at the Web Summit in Lisbon last week. Photo: AFP
Julie Zhang
Unitree Robotics, one of China’s leading humanoid robot manufacturers, has completed its pre-initial public offering (IPO) tutoring process in only four months, a major step towards an onshore listing amid Beijing’s push for technological self-reliance and advancement, according to government documents.

The Hangzhou-based unicorn passed regulatory checks with the Zhejiang Securities Regulatory Bureau, concluding a pre-listing tutoring period that began on July 18, the China Securities Regulatory Commission’s website showed.

Citic Securities, the top investment bank in China by underwriting revenue and Unitree’s tutoring institution, helped the start-up determine the fundraising amount for its IPO and drafted an investment plan for the capital to be raised, according to the document dated November 10.
Advertisement

The filing did not specify the fundraising target or listing timeline.

02:46

Humanoid robots show impressive moves at world conference in Beijing

Humanoid robots show impressive moves at world conference in Beijing

Unitree is aiming for a valuation of up to US$7 billion in a listing on Shanghai’s Nasdaq-style Star Market, according to a Reuters report in September. The company previously said it planned to file a formal IPO application between October and December.

Advertisement

To facilitate the public stock offering, Unitree transitioned from a limited liability company to a joint-stock limited company, according to records from the corporate database Qichacha published on May 29.

Advertisement
Select Voice
Choose your listening speed
Get through articles 2x faster
1.25x
250 WPM
Slow
Average
Fast
1.25x