Market Chatter: BYD, JD.com-Backed PaXini Technology Mulls Hong Kong IPO

MT Newswires Live14:57

PaXini Technology, a Chinese developer of dexterous robotic hands and humanoid robots, is weighing an initial public offering in Hong Kong, Bloomberg News reported Wednesday, citing people familiar with the matter.

The BYD (HKG:1211, SHE:002594)- and JD.com (HKG:9618)-backed company is working with advisers and could submit a listing application in the coming months, according to the report.

Key details, including the size and timing of the offering, are still under discussion and have yet to be finalized, Bloomberg said.

PaXini raised more than 1 billion yuan in a March funding round, valuing the company at more than 10 billion yuan, the report added.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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