China’s X Square Robot submits confidential filing for Hong Kong IPO, sources say

Chinese start-up X Square Robot has filed confidentially for an Initial Public Offering (IPO) in Hong Kong, according to two sources familiar with the matter, joining a growing wave of domestic robot makers flocking to capital markets, despite new US trade restrictions.The Shenzhen-based firm has tapped Huatai Securities and Morgan Stanley as sponsors for the prospective float, one of the sources said.Besides X Square, AgiBot and Galbot have also filed confidentially for Hong Kong IPOs, the second person said. The China-morning-post" class="entity-link entity-organization" data-entity-id="12558" data-entity-type="organization">South China Morning Post reported last month that AgiBot had hired Citic Securities, China-international-capital-corporation" class="entity-link entity-organization" data-entity-id="146774" data-entity-type="organization">China International Capital Corporation (CICC) and Morgan Stanley as joint sponsors.