Unitree Technology has disclosed the results of its initial public offering on Shanghai’s STAR Market, according to an announcement from the Shanghai Stock Exchange cited by ChainCatcher. The company said online and offline subscription payments have been completed. After the callback mechanism was activated, the final offline issuance came to 22.650148 million shares, accounting for about 70% of the issuance after deducting the final strategic placement. The final online issuance totaled 9.707 million shares, or about 30% on the same basis. The filing also detailed founder and actual controller Wang Xingxing’s holdings and voting rights. Before the offering, Wang directly held 86.714964 million shares and collectively controlled 34.763% of the company’s shares. Through a special voting rights arrangement, his total voting power stood at 68.7816% before the IPO. After the issuance, that proportion is expected to decline to no more than 65.309%.
Unitree Technology has released the results of its initial public offering and its prospectus for a listing on Shanghai’s STAR Market, according to a Shanghai Stock Exchange announcement cited by ChainCatcher. The company said the payment process for online and offline subscriptions has been completed.
Issuance results
After the callback mechanism was triggered, the final offline issuance amounted to 22.650148 million shares, accounting for about 70% of the total issued shares after deducting the final strategic placement. The final online issuance came to 9.707 million shares, representing about 30% on the same basis.
Founder voting rights
The disclosure also showed that before the offering, Unitree’s actual controller Wang Xingxing directly held 86.714964 million shares and collectively controlled 34.763% of the company’s shares. Through a special voting rights arrangement, Wang’s total voting power stood at 68.7816%. After the offering, his total voting power will fall to no more than 65.309%.
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