Unitree IPO draws 8,289x retail oversubscription in Shanghai

Unitree Robotics' Shanghai STAR Market offering drew extraordinary retail demand after subscriptions opened August 10, with the online tranche oversubscribed roughly 8,289 times and a final retail allotment rate of about 0.018%. The overwhelming demand triggered a clawback mechanism that shifted 3.2 million shares from the offline to the online tranche, following the company's August 5-6 pricing at 150.80 yuan per share that implied a roughly $904 million raise; trading is expected to begin around August 17-21, which would make Unitree the first listed Chinese humanoid-robot maker.