Unitree wins approval for $618M Shanghai STAR Market IPO

Chinese robot maker Unitree Robotics received registration approval on July 3 for an initial public offering on Shanghai's STAR Market, clearing the listing in a record 104 days. The company plans to raise about 4.2 billion yuan (roughly $618 million) by selling at least 40.4 million shares, a minimum 10% stake that implies a valuation of around 42 billion yuan. Proceeds will fund robot model development, robot-body research, new products and manufacturing capacity, with a market debut possible as early as late July.