BRIEF: Dobot opens up 4.8% in Hong Kong trading debut

Shares of collaborative robot maker Shenzhen Dobot Corp. Ltd. (2432.HK) opened up 4.8% in their trading debut on Monday in Hong Kong from their offer price of HK$18.80. They later pared most of those gains, but still closed up slightly at HK$18.84 by the midday break.

Dobot announced it sold 40 million shares to raise HK$681 million ($87.6 million). The Hong Kong portion of the offering was 9.25 times subscribed, while the international placing recorded 2.64 times subscribed.

Established in 2015, Dobot develops and makes collaborative robots, also known as robotic arms, and is the third company listed in Hong Kong under a new rule this year relaxing standards for tech companies with strong growth potential. The company had shipped 72,000 robots globally as of June this year, giving it 13% of the global market and making it the China’s largest player in its category.

Dobot’s revenue increased by 9.6% year-on-year to 120 million yuan ($16.4 million) in the first half of this year, while its loss over that period widened by 15.9% to about 60 million yuan.

By Lee Shih Ta

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