Robot maker’s China IPO draws feverish interest, but U.S. access remains limited

Unitree Robotics plans to list in Shanghai on Wednesday at C¥150.80 per share, issuing 40.45 million new shares. The offering would raise about C¥6.1 billion ($904.7 million) and value the company at roughly C¥61 billion ($9 billion).

Perpetual futures linked to the pending shares were trading near $99.70, about four times the IPO price, though the derivatives do not represent actual stock ownership. Unitree’s retail offering was oversubscribed 8,000 times.

U.S. investors face restrictions on the company’s robots. The Pentagon added Unitree to a list of Chinese military companies in June, and the Federal Communications Commission added foreign-made advanced robotic devices to a national-security risk list in July. Existing models have FCC approval, but future models could be excluded from the U.S. market.

Read the full story at pro.thestreet.com.