Ecovacs Status
The company raised RMB 802.8 million in its initial public offering on the Shanghai stock exchange under the ticker symbol of 603486 on May 28, 2018. A total of 40,100,000 shares were sold at RMB 20.02 per share. After the offering, the company is expected to be valued at RMB 8.03 billion. The total proceeds, before expenses, to the company was RMB 802.8 million.The company plans to use the funds raised via IPO to produce four million home service robots, build an IoT ecosystem, and expand into the global market.
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