Unitree shares soar 629% after robot maker raises $905m in Shanghai IPO

IPO Unitree shares soar 629% after robot maker raises $905m in Shanghai IPO

Humanoid developer leads China's charge in increasingly competitive sector

A Unitree G1 embodied intelligent robot is displayed at an industry event in Shanghai on Aug. 12. (VCG via Getty Images)

HONG KONG -- Shares of Unitree Robotics, China's high-profile humanoid robot maker known for fluid athletic maneuvers, shot up more than 629% to 1,100 yuan apiece upon their debut in Shanghai on Wednesday, after the company raised 6.1 billion yuan ($905 million).