‘First humanoid robot stock’ UBTech open for trading on HKEX on Dec 29

Despite relatively rosy prospects, market analysts have cast doubts on the firm's future, due largely to its dismal financial performance.

UBTech (优必选), a pioneer in China’s red-hot humanoid robot space, will begin trading on the main board of the Hong Kong Stock Exchange under the stock code “9880” on December 29, effectively becoming the “first humanoid robot stock” in the country.

The comany began offering its shares in a pre-IPO placement deal due to end on December 22.

Notably, Beijing E-Town International Holding Co. Ltd, a state-run investment vehicle, has served as a cornerstone investor, subscribing to 500 million yuan (US$70 million) worth of shares from UBTech.

The Shenzhen-headquartered firm plans to issue 11.282 million shares, including 1.128 million to Hong Kong investors and 10.15 million to their global counterparts.

The firm prices its shares at HK$96 (US$12.32) to HK$116 apiece, looking to raise about HK$1.309 billion from the listing.

As of December 10, 2023, when its prospectus was last updated, the robot developer had offered its products and services to more than 50 countries and regions across the globe.

It boasts over 900 corporate clients and total deliveries have exceeded 760,000 robots, according to the prospectus.

Despite relatively rosy prospects, market analysts have cast doubts on the firm’s future, due largely to its dismal financial performance.

cnrobopedia reported earlier that UBTech had piled up losses to the tune of 2 billion yuan within a three-year-period ending June 30 this year.

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Ni Tao

Ni Tao is the founder and editor-in-chief of cnrobopedia. Prior to cnrobopedia, he had a full decade of experience with a major state-run English-language newspaper as a tech reporter and opinion writer. He is also a communications specialist, having provided consultancy services to established firms like Siemens, Philips, ABinBev, Diageo, Trip.com Group (Nasdaq: TCOM, HK: 9961), Jianpu Technology (NYSE: JT) and a handful of domestic startups. A graduate of Fudan University, he writes widely about China's business and tech scenes and other topics for global publications including South China Morning Post, SupChina, The Diplomat, CGTN, Banking Technology, among others, and tries to impart his experience to students at Fudan University Journalism School, where he is a part-time lecturer. When he's not writing about robotics, you can expect him to be on his beloved Yanagisawa saxophones, trying to play some jazz riffs, often in vain and occasionally against the protests of an angry neighbor. Get in touch with him by dropping a line at nitao0927@gmail.com.

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