Chinese robotics company Unitree disclosed in its prospectus for an initial public offering on Shanghai’s STAR Market that senior managers and core employees plan to join the IPO’s strategic placement through two employee asset management plans. The two plans, named Unitree Employee Asset Management Plan No. 1 and No. 2, may take up no more than 10% of the offering, or 4.044643 million shares. Their combined subscription amount is capped at RMB 271.5 million, with the final allocation to be determined after the issue price is set. Unitree said all funds raised by Plan No. 1 and Plan No. 2 will be used for the strategic placement, with payment amounts of RMB 218.5 million and RMB 53 million, respectively. The participant list shows that Plan No. 1 includes 161 people, including CFO Wang Feng, while Plan No. 2 includes 10 people, including chairman Wang Xingxing. Wang is set to subscribe RMB 15 million. Earlier disclosures showed Aug. 5 as the preliminary inquiry date for Unitree’s A-share STAR Market IPO and Aug. 10 as the offline subscription date.
BlockBeats reported on July 30 that Unitree, a leading Chinese maker of civilian robots, disclosed in its prospectus for an initial public offering and listing on Shanghai’s STAR Market that senior management and core employees plan to participate in the offering’s strategic placement through asset management plans.
The filing shows that the participants are Unitree Employee Asset Management Plan No. 1 and Unitree Employee Asset Management Plan No. 2. The two plans may subscribe for no more than 10% of the total offering, or 4.044643 million shares. Their combined subscription amount will not exceed RMB 271.5 million, and the final strategic placement size will be determined after the offer price is fixed.
According to the disclosure, all funds raised under Unitree Employee Asset Management Plan No. 1 will be used for this strategic placement, with RMB 218.5 million allocated to pay for the placement. All funds raised under Unitree Employee Asset Management Plan No. 2 will also be used for the same purpose, with RMB 53 million allocated for payment.
The participant list shows that Unitree Employee Asset Management Plan No. 1 includes 161 people, including CFO Wang Feng. Unitree Employee Asset Management Plan No. 2 includes 10 people, including chairman Wang Xingxing, whose subscription amount is listed at RMB 15 million.
BlockBeats had reported earlier that the preliminary inquiry date for Unitree’s A-share STAR Market IPO is Aug. 5, while the offline subscription date is Aug. 10.
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