Pre-IPO perpetual contracts price Unitree at nearly four times its Shanghai IPO valuation, signaling high trader expectations.
Chinese robotics firm Unitree priced its Shanghai STAR Market IPO at $22.37 per share, valuing the company at $9 billion. However, Hyperliquid traders are pricing perpetual contracts between $92 and $94, implying a $38 billion valuation, according to blockchain analytics data.
Unitree, founded in 2016, reported $253 million in revenue last year, a 335% increase, with humanoid robot shipments exceeding 5,500 units. The company’s IPO is closely watched amid China’s push into advanced robotics.
The gap between the IPO price and trader expectations could lead to volatility when trading begins, with leveraged positions at risk of liquidation.