Dreame opens a pre-IPO round at a 70B yuan ($9.6B) valuation ahead of a Hong Kong listing

Dreame Technology

Dreame began selling 5% to 10% of its shares in a pre-IPO round valuing it at 70B yuan before the new money, mixing new shares with some held by founder Yu Hao. The round needed at least 350M yuan per investor and was expected to close in early July, ahead of a planned Hong Kong IPO.

• Pre-money valuation 70B yuan (about $9.6B).
• 5–10% of shares offered; minimum ticket 350M yuan.
• Includes new shares and some of founder Yu Hao's existing shares.
• Expected close: early July 2026.