Unitree Robotics Finalizes STAR Market IPO Pricing at 150.80 Yuan per Share

Chinese robotics firm Unitree Robotics has finalized the subscription results for its initial public offering on the Shanghai Stock Exchange's Sci-Tech Innovation Board (STAR Market). Priced at 150.80 yuan per share, the company issued over 40.44 million shares, supported by substantial institutional demand. Online retail investors forfeited just 8,734 shares out of 9.7 million allocated retail shares, with the offering sponsor absorbing the unsubscribed portion, while offline institutional participants recorded zero forfeitures.

Unitree's robust subscription figures and minimal forfeiture rate—despite a relatively high issue price—demonstrate solid market confidence in Chinese embodied artificial intelligence and robotics hardware. Strong institutional allocation further underscores growing institutional backing for high-valuation tech leaders in China.

Chinese robotics developer Unitree Robotics (stock code: 688836) has released the subscription and allocation results for its initial public offering on the Shanghai Stock Exchange's Sci-Tech Innovation Board, known as the STAR Market, according to an official disclosure cited by Securities Times. The offering was priced at 150.80 yuan per share, with a total issuance volume of 40,446,434 shares. Strategic placement accounted for 8,089,286 shares, or exactly 20% of the aggregate offering. Following the activation of the standard clawback mechanism, the final offline institutional tranche was set at 22,650,148 shares. The final online retail allocation stood at 9,707,000 shares, resulting in an online subscription success rate of approximately 0.0181%, reflecting competitive retail demand. Online retail investors abandoned subscriptions for 8,734 shares, representing a tiny fraction of the total retail offering. Under the underwriting agreement, the offering's lead sponsor will absorb and underwrite all 8,734 forfeited shares. No offline institutional investors forfeited their allocated shares. Institutional demand was concentrated heavily among long-term institutional vehicles. According to preliminary allocation disclosures, Class A investors—a category comprising public mutual funds, social security funds, bank wealth management subsidiaries, and insurance capital—were allocated a combined 19,333,754 shares, representing the overwhelming majority of the offline tranche.