Chinese robot maker AgiBot starts Hong Kong IPO process, Securities Times reports

Chinese humanoid robot maker AgiBot has initiated the Hong Kong IPO process, state media outlet Securities Times reported on Friday.

Previously, the company was reportedly seeking an initial public offering with a valuation of US$20 billion (HK$156 billion).

The Shanghai-based company has engaged CITIC Securities (6030) as its sponsoring broker and expects to achieve 4 billion yuan (HK$4.64 billion) in revenue this year.

Last October, foreign media reported that AgiBot intended to list in Hong Kong with a target valuation of 40 billion yuan to 50 billion yuan, eyeing a potential third-quarter debut this year. The listing plan has garnered strong support from high-profile backers, including Tencent (0700) and Sequoia Capital.

Reuters and staff reporter

𝗗𝗼𝘄𝗻𝗹𝗼𝗮𝗱 𝗧𝗵𝗲 𝗦𝘁𝗮𝗻𝗱𝗮𝗿𝗱 𝗔𝗽𝗽 ↓