China’s UBTech Robotics eyes US$307 million in Hong Kong share placement
Fresh off a big contract win, Shenzhen-based firm joins an influx of companies raising capital via the city’s robust market
Shenzhen-based UBTech Robotics, China’s top maker of humanoid robots, plans to raise about HK$2.41 billion (US$307 million) through a share placement in Hong Kong, according to a filing on Tuesday.
The new shares would represent around 6.39 per cent of the company’s enlarged issued share capital after the placement, it said.
UBTech planned to use the proceeds for business operations and development, including working capital, investments, project construction and renovation, as well as for repayment of loans and interest, according to the filing.
Since its listing at the end of 2023, the company has carried out a series of follow-on fundraisings, including nearly HK$2 billion in the past 12 months.
UBTech shares dropped by about 5.7 per cent to HK$85.10 on Tuesday.