Unitree to launch IPO next week as US-China robotics rivalry intensifies

Unitree Robotics will launch its initial public offering in Shanghai next week, the firm announced late on Thursday, as China’s robotics start-ups race to go public amid an intense rivalry with their counterparts in the United States. The Hangzhou-based company plans to sell 40.45 million shares, or 10 per cent of its enlarged share capital. After the listing, Unitree founder Wang Xingxing and related parties will hold 31.29 per cent of the company’s shares and 65.31 per cent of its voting...