Unitree crypto futures sees over 300pc upside from offer price, indicated valuation tops US$40b

China's Unitree saw its linked-perpetual futures contracts trade at around US$100 (HK$780) per share, or 674 yuan, on the blockchain platform Hyperliquid, representing 347 percent growth from its offer price of 150.8 yuan (HK$175.43)

This implies a market capitalization of US$40 billion - more than four times higher than its US$9 billion based on its offer price.

Hyperliquid traders have successfully flagged a surge in memory chipmaker ChangXin Memory Technologies' debut previously, which became the mainland's most valuable listed firm.

Unitree seeks to raise 6.1 billion yuan in the share sales, and its retail tranche was more than 8,000 times oversubscribed, underscoring intense investor enthusiasm. Its winning allotment rate has set a record low at 0.018 percent.
 

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