UBTECH has oversubscribed with Patrons as Joint Bookrunner and Joint Lead Manager
On 29th December, UBTECH Robotics Inc from Shenzhen, stock code (09880.HK) , was officially listed on the Main Board of the Hong Kong Stock Exchange at a price of HK$90 per H-share, with Patrons as the Joint Bookrunner and Joint Lead Manager. Ubiquiti has offered 11,282,000 shares globally between 19 and 22 December, 90% of which were placed internationally and 10% in Hong Kong. The offer has been significantly oversubscribed, reflecting the high enthusiasm of investors.
It was understood that UBTECH will spend nearly half of the proceeds to enhance its R&D capabilities to strengthen its core technologies, products and solution offerings, as well as to continue to expand its business, and that Ubitus' status as the "first humanoid robotics stock" will boost confidence in the robotics industry. As the Joint Bookrunner and Joint Lead Manager for the IPO listing project, Patrons fully utilized its extensive channel resources and actively cooperated with Ubitselect in IPO matters, contributing to its successful listing.
Looking forward, Ubitus is expected to continue to make good progress in China's robotics market. The Chinese government has been paying close attention to the development of the robotics industry and has been actively promoting relevant policies and programmes. In particular, the implementation of the "Robots plus Application Action” has brought great opportunities to the robotics industry. With the continuous growth of China's economy and the advancement of artificial intelligence technology, the market outlook for intelligent robots is promising.
Patrons looks forward to the future, and UBTECH is expected to continue to achieve positive progress in the Chinese robotics market. The Chinese government has been closely monitoring the development of the robotics industry and actively promoting relevant policies and plans. Especially with the implementation of the "Robots plus" Application Action”, it has brought tremendous opportunities to the robotics industry. With the continued growth of the Chinese economy and the continuous advancement of artificial intelligence technology, the development for the intelligent robotics market is predicted to be extremely prospective.
