Unitree Robotics surges 629% to US$66 billion valuation in Shanghai share debut

Shares of Unitree Robotics surged 629 per cent above their initial public offering price to open at 1,100 yuan in their Shanghai trading debut on Wednesday, giving China’s best-known humanoid robot maker a market capitalisation of about 445 billion yuan (US$66 billion).
The opening pop from its IPO price of 150.80 yuan was followed by a pullback in morning trading, with the stock settling at 883.9 yuan per share by the midday break. Even at that level, Unitree retained a market capitalisation of...