By Samuel Shen and Yantoultra Ngui
SHANGHAI/SINGAPORE, Aug 4 (Reuters) - Chinese robot maker Unitree Technology is expected to be valued at more than 50 billion yuan ($7.4 billion) after its planned Shanghai IPO, according to a report by Citic Securities, which is sponsoring the initial public offering.
Citic Securities expected the Hangzhou-based company to be worth 50.6 billion to 55.9 billion yuan six to 12 months after listing later this month. The valuation report, distributed to investors and seen by Reuters, is largely seen as guidance ahead of Wednesday's IPO price enquiry.
Unitree, which competes with Tesla and Boston Dynamics in making humanoid robots, aims to raise 4.2 billion yuan to fund innovation and production.
Robotics is seen as one of China's strategic industries key to Beijing's tech rivalry with Washington.
#shanghai #reuters #unitree #securities
SHANGHAI/SINGAPORE, Aug 4 (Reuters) - Chinese robot maker Unitree Technology is expected to be valued at more than 50 billion yuan ($7.4 billion) after its planned Shanghai IPO, according to a report by Citic Securities, which is sponsoring the initial public offering.
Citic Securities expected the Hangzhou-based company to be worth 50.6 billion to 55.9 billion yuan six to 12 months after listing later this month. The valuation report, distributed to investors and seen by Reuters, is largely seen as guidance ahead of Wednesday's IPO price enquiry.
Unitree, which competes with Tesla and Boston Dynamics in making humanoid robots, aims to raise 4.2 billion yuan to fund innovation and production.
Robotics is seen as one of China's strategic industries key to Beijing's tech rivalry with Washington.
#shanghai #reuters #unitree #securities
2 months ago
