Unitree Robotics Valued at Over Four Times IPO Price by Crypto Traders

Unitree Robotics is set to debut on China's public markets after pricing its Shanghai STAR Market offering at 150.80 yuan ($22.37) per share, valuing the company at roughly $9 billion.

However, crypto traders are betting that Unitree will be worth more than four times its IPO valuation when it begins trading between Aug. 17 and Aug. 21, according to a report from blockchain analytics firm Allium.

The premium reflects lofty expectations for one of China's closely watched robotics companies, which makes four-legged and humanoid robots for research, industrial, and consumer applications.

Unitree's revenue reached $253 million last year, up 335%, while humanoid robot shipments topped 5,500, according to Allium's report. The firm's IPO was reportedly 8,000 times oversubscribed by retail traders.