China’s X Square Robot submits confidential filing for Hong Kong IPO: sources
The start-up joins a growing list of domestic robot makers in China raising capital.
Source excerpt
Chinese start-up X Square Robot has filed confidentially for an initial public offering (IPO) in Hong Kong, according to two sources familiar with the matter, joining a growing wave of domestic robot makers flocking to capital markets, despite new US trade restrictions.
The Shenzhen-based firm has tapped Huatai Securities and Morgan Stanley as sponsors for the prospective float, one of the sources said.
Besides X Square, AgiBot and Galbot have also filed confidentially for Hong Kong IPOs, the second person said.
The South China Morning Post reported last month that AgiBot had hired Citic Securities, China International Capital Corporation (CICC) and Morgan Stanley as joint sponsors.
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