UBTech lists on Hong Kong Stock Exchange at $4.8 billion valuation

UBTech Robotics went public on HKEX under ticker 9880, raising HK$1 billion (US$128 million) at HK$90 per share, valuing the company at HK$38 billion (US$4.8 billion). Founder James Zhou became a billionaire with a 24.8% stake worth US$1.2 billion.