Chinese Robotics Component Maker Halts STAR Market IPO
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Zhejiang Fine Motion Robot Joint Technology Co. Ltd. has aborted its planned initial public offering on Shanghai’s tech-heavy STAR Market after the robotics component maker and its sponsor, GF Securities Co. Ltd., jointly withdrew their application, underscoring both a regulatory freeze on domestic carve-outs and cooling investor appetite for the sector.
The Shanghai Stock Exchange terminated its listing review on Monday, following a decision on Sept. 4 by Fine Motion Robot’s parent company, gear manufacturer Zhejiang Shuanghuan Driveline Co. Ltd., to abandon the spin-off.
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