UBTECH ROBOTICS, a leading Chinese humanoid robot maker, saw its shares surge 8.74% in Thursday's intraday trading session. The stock climbed to its highest level in two months, fueled by the company's announcement of a share sale plan to raise funds for business development and product commercialization.
According to the plan, UBTECH ROBOTICS will issue 10.2 million new H shares, representing 2.3% of the enlarged share capital, to third-party investors. The placement is expected to raise HK$914 million (approximately $117.5 million), which will be used to support the company's growth initiatives, broaden its shareholder base, and strengthen its position in the rapidly evolving robotics industry.
The news of the share sale was warmly welcomed by investors, who viewed it as a positive step towards accelerating UBTECH ROBOTICS' growth and expanding its product offerings. The influx of fresh capital is expected to fuel the company's efforts in developing and commercializing cutting-edge robotic solutions, potentially driving revenue growth and enhancing shareholder value in the long run.
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