Robotics maker Shenzhen Dobot Corp. Ltd. (2432.HK) said on Wednesday that its application for a second listing on the Shenzhen Stock Exchange’s ChiNext board was approved by the exchange on Tuesday. Previous market rumors had placed Dobot’s fundraising target at about 1.2 billion yuan ($177 million).
Proceeds from the offering will be used to develop embodied AI robots, with 45.8% earmarked for the development and industrialization of multi-legged models. Another 20.8% will be used to advance humanoid robotics technologies, and 8.3% will be used for marketing. The remaining 25% will go toward replenishing working capital.
Shares of Dobot opened up 5.3% at HK$26.56 on Thursday. The stock is down over 60% from its 52-week high.
By Lau Chi Hang
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