Unitree Robotics published the subscription and ballot rate announcement for its STAR Market IPO on Aug. 11, confirming that the offline placement after the strategic placement adjustment totals 25,886,148 shares — approximately 80.00% of the offering after deducting final strategic placement. The offline segment uses a proportional lock-up method: each offline investor pledges 10% (rounded up) of allocated shares to a six-month lock-up from the listing date. In practice, 90% of every allocation is freely tradable on the Shanghai Stock Exchange from day one, while the remaining 10% cannot be sold for six months. The company and its lead underwriter will host the online subscription lottery draw on the morning of Aug. 11 (T+1) at Room 707, North Tower, Shanghai Securities Building, No. 528 South Pudong Road, Pudong New Area, Shanghai, with winning numbers to be released on Aug. 12 (T+2).
Unitree Robotics on Aug. 11 released the subscription and ballot rate notice for its initial public offering on the Shanghai Stock Exchange's STAR Market. The filing spells out how the offline placement will be handled after the strategic placement adjustment.
Per the announcement, offline placement volume after the strategic placement adjustment is 25,886,148 shares. That works out to about 80.00% of the offering size after the final strategic placement is deducted.
Proportional Lock-Up: 10% Tied for Six Months
The offline tranche uses a proportional lock-up mechanism. Simple setup. Offline investors have to accept a six-month lock-up on 10% of their allocated shares, rounded up, starting from the date the issuer publicly lists.
For each allocation, 90% of the shares come with no lock-up restriction and can be traded as soon as the stock lists on the Shanghai Stock Exchange. But the other 10% faces a six-month lock-up period, counted from the listing date as well.
Lottery Draw on Aug. 11 (T+1), Results on Aug. 12 (T+2)
Unitree said the issuer and the lead underwriter will conduct the online subscription lottery draw on the morning of Aug. 11 (T+1). The location: Room 707, North Tower, Shanghai Securities Building, No. 528 South Pudong Road, Pudong New Area, Shanghai. And the winning numbers from the online lottery will be published on Aug. 12 (T+2).
This article was originally published by Bit.Fan. For more cryptocurrency news and market insights, visit www.bit.fan. Disclaimer:
The market information, project data, and third-party content displayed on this platform are for industry information sharing only and do not constitute any form of investment advice or return commitment.
Cryptocurrency trading carries high risks. Users should fully assess their risk tolerance and make independent decisions. All profits, losses, and legal responsibilities are borne by the users themselves.
