(Aug 18): LimX Dynamics has confidentially filed for a Hong Kong initial public offering to raise several hundred million dollars, people familiar with the matter said, adding to a wave of Chinese robotics companies lining up to go public.

The Shenzhen-based company firm is working with Citic Securities Co on the deal, the people said, asking not to be named for discussing a private matter.

Deliberations, including on the size and timing of the deal, are ongoing, the people added. LimX Dynamics and Citic declined to comment. The company is in the process of working toward an IPO, Jesse Liu, LimX Dynamics’ chief financial officer, told Bloomberg TV on Monday, declining to elaborate further.

Founded in 2022, LimX Dynamics makes humanoid robots intended for use in homes, manufacturing and research as well as commercial venues like malls. Its backers include technology firms Alibaba Group Holding Ltd and JD.com Inc, as well as investment firm IDG Capital. LimX Dynamics in July raised US$200 million (RM811.96 million) in a pre-IPO round that valued the firm at 15 billion yuan (RM9.03 billion).

In a test of investor appetite for humanoid robot makers, industry pioneer Unitree Robotics is set to debut in Shanghai on Wednesday after raising about 6.1 billion yuan. Hong Kong listings have raised more than US$42 billion this year, largely thanks to debuts of AI-related companies. The city is gearing up for a record year in listing proceeds, Hong Kong Exchanges & Clearing Ltd. CEO Bonnie Chan told the Hong Kong Economic Journal.

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