Alibaba-backed Quicktron Robotics kick-starts HK listing

Chinese autonomous mobile robots maker Quicktron Robotics, backed by Alibaba (9988), has filed for listing in Hong Kong as the local capital market continues to flourish, Bloomberg reported.

The company is set to raise at least US$100 million (HK$780.6 million) and be listed as early as next year, the report said.

Discussions for offering sizes and timelines are still ongoing, the report said.

Founded in 2014, Quicktron develops logistics robots and warehousing solutions. The company built China’s largest autopilot warehouse in Wuxi for Alibaba's logistics unit Cainiao Network.

The robot maker has over 1,000 clients, including Huawei, Xiaomi (1810), and the world’s largest shipping company, Denmark’s AP Moller Maersk.

Last year, Quicktron garnered more than US$100 million in its Series D round.

HELEN ZHONG