Unitree Robotics prices Shanghai IPO as RMB 61 BN

Unitree Robotics has priced its Shanghai initial public offering at 150.8 yuan a share ($22.3), valuing the company at RMB 61 billion yuan and securing a strategic investment from artificial intelligence firm DeepSeek, reports Caixin.

Unitree plans to issue 40.4 million shares, equal to 10% of its enlarged share capital. If the deal goes through, the company is expected to raise RMB 6.1 billion, with net proceeds of about RMB 5.9 billion after issuance costs. Demand was strong in the preliminary inquiry phase, with institutional bids oversubscribing the initial offline tranche by more than 2,600 times.

The IPO includes a strategic placement to several large corporate investors. DeepSeek was allocated 933,399 shares, or 2.31% of the offering, subject to a three-year lockup. Other strategic investors, each taking 2.23% of the deal, include investment arms of China National Petroleum Corp, China Southern Power Grid and China Telecom, as well as a Tencent subsidiary.