Unitree Robotics Raises US$904 Million Amid Fierce Competition from Chinese Investors
Chinese investors faced stiff competition for shares in Unitree Robotics, a Hangzhou-based maker of embodied artificial intelligence hardware. Nearly 9.8 million trading accounts competed for 9.7 million shares, resulting in an online allocation rate of just 0.0181 per cent.
This means that only about one investor out of every 5,500 applicants secured a share in the company. Despite these slim odds, Unitree managed to raise 6.1 billion yuan (US$904 million) at 150.80 yuan a share, giving it a valuation of 60.99 billion yuan.
Meanwhile, investors were also keeping an eye on gold prices, which hit a nine-week high of US$4,449 an ounce before closing 1.3 per cent lower at US$4,351.
A survey by Standard Chartered found that real estate is no longer a top priority for affluent Hongkongers, with only 24 per cent citing home ownership as a key life goal. Immersive travel emerged as a popular alternative, with 48 per cent of respondents considering it a form of investment.