Unitree Robotics shares rose 629.44% on their debut in Shanghai
Shares of Unitree Robotics, a Chinese manufacturer of humanoid robots, opened at 1,100 yuan per share during its debut on the Shanghai STAR Market. This is 629.44% higher than the initial public offering price, according to ECNS.
During the IPO, the company’s shares were priced at 150.8 yuan. At the opening of trading, their value stood at approximately $161.99 per share.
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Unitree Robotics’ market capitalization reached nearly 445 billion yuan, or approximately $62 billion, after trading began. This is more than seven times the company’s valuation at the IPO price.
A lot of 500 shares allocated during the IPO had a paper profit of approximately 474,600 yuan at the opening price. Unitree Robotics develops high-performance quadrupedal and humanoid robots for consumer and industrial use, as well as robotic manipulators. According to ECNS, the company was the first in the world to begin publicly selling high-performance quadruped robots and was among the first to apply them in industrial settings.
