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Unitree Robotics' Shanghai IPO Draws DeepSeek, CNPC, More

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Strategic placements in Unitree Robotics' (SHA:688836) initial public offering have drawn a lineup of tech and state-backed institutional particiapnts including AI startup DeepSeek and China National Petroleum Corp., among others.

DeepSeek and the National Council for Social Security Fund led the investments, each committing about 141 million yuan under 36-month lockup agreements.

Other participants include PetroChina (SHA:601857, HKG:0857) parent CNPC, Tencent (HKG:0700) unit Tencent Technology (Shanghai), China Southern Power Grid Industry and Finance, Tianyi Capital Holdings, Shanghai Qishan Investment, a CITIC Securities (SHA:600030, HKG:6030) unit and more.

Unitree priced its offering of 40.4 million shares at 150.80 yuan apiece, raising 6.1 billion yuan.

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