Eco­v­acs gets listed

Global Times - Weekend - - TECH -

Chi­nese vac­uum ro­bot maker Eco­v­acs Robotics got listed on the Shang­hai Stock Ex­change Mon­day, putting it on a path­way to be­come a ri­val for Chi­nese con­sumer elec­tron­ics maker Xiaomi and Bri­tish tech firm Dyson.

Eco­v­acs raised about 803 mil­lion yuan ($125.3 mil­lion) in an IPO by selling 40.1 mil­lion shares at 20.02 yuan each.

Both Xiaomi and Dyson pro­duce vac­uum ro­bots, but Eco­v­acs has a dif­fer­ent mar­ket po­si­tion, Qian Dongqi, the com­pany’s founder, was quoted as say­ing in me­dia re­ports. The mar­ket for ser­vice ro­bots has huge po­ten­tial, in which play­ers could ex­plore more op­por­tu­ni­ties, Qian said.

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