Unitree Soars 460% on First Day, Mech-Mind Aims for September 1 Listing
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Unitree Robotics saw a staggering 460% increase on its first day of trading on the Shanghai Stock Exchange, marking the beginning of a competitive IPO race among Chinese robotics companies. Unitree set its IPO price at 150.8 yuan per share on August 6, with a pre-listing valuation of approximately 61 billion yuan, or about 9 billion dollars. The individual subscription rate exceeded 8,000 times, and on the first day of trading on August 19, the stock price surged by 460%. Mech-Mind Robotics is conducting subscriptions from August 24 to 27 and aims for a Hong Kong listing on September 1, raising its fundraising target to about 300 million dollars. AgiBot and X Square Robot are also mentioned as candidates for a Hong Kong listing, with AgiBot starting its IPO process at the end of July. AiMOGA Robotics, a subsidiary of Cherry Automobile, is in discussions regarding its IPO. The competition for listings among robotics companies is continuing beyond China, as Agility Robotics announced a $2.5 billion SPAC merger. Chinese companies account for over 97% of global humanoid robot shipments, with Unitree estimated at 5,900 units and AgiBot at 8,400 units.
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