Media365
UBTech Robotics, one of China’s top makers of humanoid robots, plans to raise HK$3.11 billion (US$399.6 million) through a share placement in Hong Kong – its sixth and largest such fundraising since last year, riding on growing industrial orders and the sector’s momentum.
The Shenzhen-based company aimed to sell 31,468,000 new shares for HK$98.80 each, representing a discount of around 11.4 per cent from the closing price on Monday, according to a filing to the Hong Kong stock exchange on Tuesday.
Its shares dropped 2.3 per cent to HK$108.90 at open on Tuesday, trimming its gain to 98.2 per cent this year.
UBTech said the placement would help integrate its supply chains and strengthen its push into industrial manufacturing, which it called a “historic opportunity for humanoid robots”. The funds would also enhance core competitiveness, advance technology and boost sales and profitability, the filing said.
Three-quarters of the net proceeds would be allocated to invest in or acquire potential supply chain targets, pursue industry partnerships or establish joint ventures over the next two years, the company said, although specific targets were not identified. Around 15 per cent would support business operations and development, including working capital and new projects, while 10 per cent would repay loans and interest.
