The robotics technology provider, a spinoff from automotive manufacturer Chery, plans to float in a Shanghai offering that will also allow Midea to exit.
Efort Intelligent Equipment, a China-based industrial robot producer backed by corporates Chery and Midea, has filed to raise up to RMB828m ($118m) in an initial public offering, DealStreetAsia reported yesterday.
The company intends to float on Shanghai Stock Exchange’s Star Market and will issue up to 130.5 million shares priced at RMB6.35 each. Guosen Securities is the main underwriter for the offering while CICC is the joint sponsor.
Founded in 2007 and spun off from carmaker Chery, Efort produces robotics…
