Ubtech Robotics (03231) has launched its public offering, running from August 31 to September 4, 2026. The company plans to globally offer 45 million shares, with 5% allocated to the Hong Kong public offering and 95% to the international placement. The indicative price range is set between HK$14.45 and HK$19.55 per share, with each board lot comprising 200 shares. Trading on the Stock Exchange of Hong Kong is expected to commence on September 9, 2026.
As a technology-driven enterprise, the company operates under Chapter 18C of the Listing Rules, commercializing its innovations across two primary sectors. The first is robotics and automation, where it deploys commercial service robots, robot modules, and related services including Robot-as-a-Service (RaaS) and leasing arrangements. The second is next-generation information technology, powered by its industry-specific AI vision model solutions. Both business lines are underpinned by a proprietary, shared integrated technology framework, though they are monetized through distinct products, business models, and application scenarios.
The company has entered into cornerstone investment agreements. Under these arrangements, cornerstone investors have agreed, subject to certain conditions, to subscribe for a specified number of offering shares at the final offer price. Based on a midpoint price of HK$17.00 per H-share, cornerstone investors are set to purchase a total of 1.3892 million offering shares. These investors include SensePower Management Limited, an indirect wholly-owned subsidiary of SenseTime-W (00020.HK), and CYGG Holding Limited, a wholly-owned subsidiary of 58 Group.
Assuming an offer price of HK$17.00 per share, the midpoint of the indicative range, net proceeds from the global offering are estimated to reach approximately HK$685.7 million. The company plans to allocate these funds as follows: roughly 48.5% toward enhancing R&D capabilities, expanding its research team, and strengthening core technologies for indoor and outdoor delivery and cleaning robots; about 30.0% for business expansion and strategic acquisitions; approximately 7.0% to bolster sales and marketing efforts; around 4.5% for partial repayment of bank loans; and the remaining 10.0% as working capital and for other general corporate purposes.