Excelland Robotics kicks off Hong Kong IPO

Excelland Robotics (Wuxi) kicked off bookbuilding of its initial public offering in Hong Kong on Monday, aiming to raise up to HK$879.8 million, 

The Chinese robotics firm plans to offer 45 million H shares, 5 percent of which are for subscription by the public in Hong Kong, with an offer price ranging from HK$14.45 to HK$19.55 per share.

Per borad lot of 200 shares requires an entry fee of HK$3,949.44.

It's expected to debut on September 9.

Its cornerstone investors include SenseTime-backed (0020) SensePower Management and Beijing 58 Information Technology's CYGG, with a total investment of US$3 million (HK$23.4 million).

For the first three months, the company's net loss expanded by 20 percent year-on-year to 31.22 million yuan (HK$36.42 million), while revenue was up 5 percent to 76.5 million yuan.

The company's principal product families include the Yomie series for indoor delivery and guest guidance, the Yodee series for high-capacity indoor delivery, the Yoxiaogu series for indoor and outdoor cleaning, the Yogel series for on-demand delivery within enclosed environments, and Yoshop vending robots for unmanned retail applications. 

Under Chapter 18C, if the number of offer shares applied for under the Hong Kong public offering represents 10 times or 50 times or more, the IPO will trigger a clawback mechanism that allows investors to subscribe to 10 percent or 20 percent of shares initially available under its global offering.

𝗗𝗼𝘄𝗻𝗹𝗼𝗮𝗱 𝗧𝗵𝗲 𝗦𝘁𝗮𝗻𝗱𝗮𝗿𝗱 𝗔𝗽𝗽 ↓