Shares of Unitree, one of China's largest humanoid robot makers, initially soared as much as 629% in its public stock trading debut Wednesday in Shanghai, in the latest highlight of investor optimism over China’s technological advances.
The company, founded in 2016 by entrepreneur Wang Xingxing in the eastern Chinese technology hub of Hangzhou, raised around 6.1 billion yuan ($904 million) in its listing on the Shanghai Stock Exchange’s Nasdaq-style STAR market. The shares were priced at 150.80 yuan ($22.36) a share. Shares were still up nearly 500% as of midday.
