Unitree Robotics surges 629% to $62 bln valuation in Shanghai share debut

(ECNS) -- Chinese humanoid robot maker Unitree Robotics surged 629.44 percent to open at 1,100 yuan (about 161.99 U.S. dollars) per share in its Shanghai STAR Market debut Wednesday.

The opening gave the company a market capitalization of nearly 445 billion yuan ($62 billion), more than seven times its valuation at the IPO price.

The shares were priced at 150.8 yuan in the IPO. At the opening price, a 500-share IPO allotment represented a paper gain of about 474,600 yuan.

Unitree develops high-performance legged and humanoid robots for consumer and industrial use, as well as dexterous robotic arms. It was the world’s first company to publicly sell high-performance quadruped robots and among the earliest to bring them into industrial applications.

(By Intern Yang Hongran, Zhang Dongfang)