Social RoboticsUBTech becomes the first humanoid robot maker listed in Hong Kong
The Shenzhen company raised about HK$1 billion in the city's final IPO of 2023.
UBTech Robotics debuted on the Hong Kong Stock Exchange, selling shares at HK$90 and closing its first day slightly higher, for a market value of about HK$38 billion. It was the first time investors could trade a Chinese humanoid robot developer on the secondary market. The company remained loss-making and said it would spend the proceeds mainly on research, debt repayment and brand building. UBTech, known for educational and entertainment robots as well as its Walker humanoids, gave public markets a direct way to back humanoid robotics.
Source: China Daily Hong Kong
This archive entry summarises reporting published elsewhere; follow the source link for the full story. The summary was drafted with AI from that reporting.