Chinese robotics firm Unitree is eyeing a valuation of up to 50 billion yuan ($7 billion) for its upcoming initial public offering, Reuters reported, in what would be one of the largest tech listings for the country in recent years.
The company, which disputed the figure, is among the top humanoid robotic firms in China, vying with the US for global supremacy in the sector. Unitree recently raised fresh capital from national giants including Alibaba and Tencent, which valued the company at an estimated $1.7 billion, according to PitchBook. The planned IPO would test investor interest in the nascent industry that China is poised to dominate.