China's UBTech Robotics eyes US$307 million in Hong Kong share placement
The company, which became the first
robotics maker on the
Hong Kong stock exchange in 2023, is offering 30,155,450 new shares at HK$82 per share, representing a discount of about 9 per cent to the closing price of HK$90.25 on Monday.
The new shares would represent around 6.39 per cent of the company's enlarged issued share capital after the placement, it said.
UBTech planned to use the proceeds for business operations and development, including working capital, investments, project construction and renovation, as well as for repayment of loans and interest, according to the filing.
Since its listing at the end of 2023, the company has carried out a series of follow-on fundraisings, including nearly HK$2 billion in the past 12 months.
UBTech shares dropped by about 5.6 per cent to HK$85.15 on Tuesday morning.
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