China’s Unitree has set the price for its initial public offering on the Shanghai Stock Exchange at 150.8 yuan ($22.34) per share, valuing the company at about 61 billion yuan ($9.04 billion).
The offering will make Unitree the first humanoid-robot manufacturer listed on mainland China’s market. In its filing, Unitree, also known as Yushu Technology, said it plans to raise 6.1 billion yuan. The company’s potential valuation at listing exceeds the previously stated target of 50 billion yuan that Reuters reported in September. Unitree noted that its current humanoid and quadruped robots have received approvals for sale in the United States, but future models could be barred from being sold in the country.