FINWIRES · TerminalLIVE
FINWIRES

Market Chatter: Shenzhen-Based AI² Robotics Mulls Hong Kong IPO

By

Shenzhen-based AI² Robotics is exploring a Hong Kong listing as early as next year, with advisors already engaged, Bloomberg News reported Wednesday, citing people familiar with the matter.

The firm recently secured about 5 billion yuan in new funding, boosting its valuation past 20 billion yuan, the news wire said.

Established in 2023, the company produces general-purpose robots for sectors including R&D, production, and service applications, the publication said.

AI² Robotics did not immediately respond to' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Related Articles

Asia

Hubei Dinglong to Allot 1 Billion Yuan for Wealth Management Products; Shares Jump 9%

Hubei Dinglong (SHE:300054) will allocate up to 1 billion yuan for the purchase of wealth management products using its idle funds, according to a Tuesday disclosure to the Shenzhen bourse.The wealth management products will help with the efficient use of capital, it said in the filing.Shares rose 9% during the midday break on Tuesday.

SHE:300054
Asia

Inspace Creation Bags Malaysia Distribution Rights to Novah Furniture Products

Inspace Creation (KLSE:INSPACE), through its subsidiary Image Articulation, has entered into a distribution agreement with office furniture company Novah, according to a Monday filing with Bursa Malaysia.Under the pact, Image Articulation will be the exclusive distributor of certain Novah-branded office furniture products within Malaysia.The agreement is initially for two years starting Aug. 1, and will be automatically renewed for an additional two years if Image Articulation achieves at least 80% of the applicable sales targets.

KLSE:INSPACE
Asia

Hanwha Aerospace Ends KRW455 Billion Supply Contract with UK's Vertical Aerospace

Hanwha Aerospace (KRX:012450) said it terminated a 454.8 billion won contract with U.K.-based Vertical Aerospace, according to a Tuesday filing with the Korea Exchange.The contract, signed in August 2022, involved the development and supply of electromechanical actuators, tilting systems and blade pitch systems for Vertical Aerospace's VX4 aircraft.The South Korean aerospace company said the decision was made by mutual agreement following changes in market conditions and business direction relative to the project's original objectives.Hanwha said the companies simultaneously signed a memorandum of understanding to maintain their cooperative relationship and lay the groundwork for future collaboration on similar projects.Shares of Hanwha Aerospace jumped over 10% in recent trade.

KRX:012450