Xiaomi-Backed Robotic Cleaner Maker Roborock Eyes USD649 million STAR Market IPO

February 12, 2020 3:25 pm

Beijing (PingWest)- Xiaomi-backed robotic cleaning appliances provider Beijing Roborock Technology Corporation is seeking to raise CNY1.3 billion in a STAR Market IPO.

Roborock will offer as many as 16.67 million common shares at 271.12 yuan (USD39) apiece to seek a market cap of 3.05 billion yuan (USD438 million), according to a company filing on Wednesday.

Roborock designs and sells smart home cleaners and other cleaning appliances. It secured investment from Xiaomi in 2014 and launched its first product, Mi Home Robotic Vacuum Cleaner, in 2016.