- Robotics firm clears STAR Market listing committee in 73 days, among fastest recent listings
- IPO to raise 4.2 billion yuan, with most proceeds directed to R&D
Unitree (宇树科技), a leading humanoid and quadrupedal robotics developer, is on track to list on China’s STAR Market as early as early July, according to industry estimates.
The Hangzhou-based startup’s IPO journey accelerated after a record-breaking regulatory review that could make it the A-share stock market’s first humanoid robotics listing.
On June 1, the Shanghai Stock Exchange’s listing committee approved Unitree’s IPO application after just 73 days from acceptance on March 20.
This marks the fastest approval by the STAR Market listing committee in the past two years. The company submitted its registration filing the following day.
Registration-based system
Under the Nasdaq-style board’s registration-based IPO system, the China Securities Regulatory Commission is required to decide on approval within 20 working days.
Once a registration permit is issued, the underwriter must file issuance and pricing arrangements with the exchange, and trading can begin if no objections are raised within five working days.
Priority on R&D
Market analysts say that, based on recent precedents, it typically takes another two to three weeks from registration approval to listing, placing Unitree’s potential debut in early July.
The company plans to issue no fewer than 40.4464 million shares and raise 4.202 billion yuan ($621 million), with about 85% of proceeds allocated to research and development projects, especially on embodied intelligence.
