Fast-growing Chinese robot maker AgiBot is pursuing an initial public offering in Hong Kong and has hired Citic Securities as a sponsor, according to two people familiar with the matter.
Additionally, China International Capital Corporation (CICC) and Morgan Stanley have also been tapped as joint sponsors, one of the people said.
Shanghai-based AgiBot had shown signs that it was looking to list following its restructuring from a limited liability company to a joint-stock limited firm last year, an essential step for firms preparing to go public.
AgiBot, Citic, CICC and Morgan Stanley did not immediately respond for comment on Wednesday.
AgiBot had been eyeing a Hong Kong listing this year, targeting a valuation of HK$40 billion (US$5.10 billion) to HK$50 billion, Reuters reported in 2025.
The Shanghai-based robot developer has joined a new wave of listing candidates targeting the Hong Kong stock market, including online retail giant Shein and optical transceiver maker Zhongji Innolight.
Innolight’s IPO, potentially the city’s biggest listing in seven years, attracted more than 30 cornerstone investors and aimed to raise US$8 billion, followed by a debut on July 30, the South China Morning Post reported on Tuesday.