Unitree Robotics IPO drew nearly 9.8 million retail orders 0.0181% allocation
Unitree Robotics, a Chinese company known for its humanoid robots, just had its IPO flooded with nearly 9.8 million orders from everyday investors, oversubscribing the retail portion by a wild 8,289 times.
But here's the catch: with an allocation rate of just 0.0181%, only about one in every 5,525 applicants will actually get any shares.
Unitree seeks $900 million IPO $9B valuation
Unitree is aiming to raise $900 million through this IPO, putting its total value at around $9 billion.
Founded in 2016, the company has shifted from making four-legged robots to focusing on humanoid models like the G1 for schools and research labs.
Its revenue has jumped to 1.7 billion yuan, more than four times its previous-year figure, with over half coming from humanoids, but Unitree still faces competition and possible US regulatory hurdles as it steps into the spotlight.