Unitree began its online and offline subscription process on August 10, priced at 150.80 yuan per share, according to a report from Sina Tech. The IPO values the company at roughly 60.993 billion yuan after the offering, with total proceeds of nearly 6.1 billion yuan and an issue price-to-earnings ratio of 219.23 times. The company's early shareholders included DJI, which backed Unitree before it went public. In 2018, DJI paid 10.1286 million yuan for about 17% of Unitree, implying a valuation of approximately 60 million yuan. The stake was registered, making DJI the largest external shareholder at the time. A year later, in 2019, DJI reduced its capital and exited Unitree's shareholder list entirely. Before founding Unitree, Wang Xingxing had briefly worked at DJI before leaving to start his own company. The report calculates that if DJI had kept the stake to the present day, the holding's market value could have reached several billion yuan. DJI declined to comment.
Unitree opens subscription at 150.80 yuan per share
Unitree formally started its online and offline subscription on Aug. 10. The offer price is set at 150.80 yuan per share, giving a post-issue market value of about 60.993 billion yuan. Total proceeds are close to 6.1 billion yuan, and the issue price-to-earnings ratio stands at 219.23 times.
DJI was once Unitree's largest external shareholder
Before founding Unitree, Wang Xingxing worked briefly at DJI and soon left to start his own company. In 2018, DJI acquired about 17% of Unitree for 10.1286 million yuan. That price implied a valuation of around 60 million yuan at the time.
The stake was filed in the company's business registration, and DJI became Unitree's largest external shareholder. That changed in 2019, when DJI reduced its capital and removed itself from Unitree's shareholder list.
According to calculations in the report, if DJI had held the stake until today, the holding's market value could have exceeded several billion yuan. DJI declined to comment on the reports. Sina Tech reported the news.
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