What's new: Softbank-backed Chinese robot startup Jaka Robotics Ltd. plans to raise 7.5 million yuan ($108 million) in an initial public offering on Shanghai's Nasdaq-like STAR Market. Jaka Robotics plans to sell as many as 20.62 million shares, or at least 25% of its total share capital, according to a prospectus filed with Shanghai Stock Exchange. The Shanghai-based company said it plans to use 420 million yuan of the proceeds for a project to produce 50,000 smart robots annually, 306 million yuan to build research and development centers and 24 million yuan to supplement working capital.

https://www.caixinglobal.com/2023-05-11/chinas-jaka-robotics-files-for-108-million-ipo-on-star-market-102051046.html

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