Copy of Unitree Robotics Soars Over 500% In China Debut IPO; Moderna Shares Surge 170% On Positive Cancer Vaccine Results; Dangote Refinery Secures $1 Billion Ahead Of Mega IPO; & Geregu Power Pays Do
- Dipo Owolabi
- 5 hours ago
- 3 min read
From a robot maker’s blockbuster debut in Shanghai to a breakthrough in cancer treatment and major moves in Nigeria’s capital markets, the business landscape is buzzing with big developments. Unitree Robotics soared more than 500% on its first day of trading, while Moderna shares surged after promising cancer vaccine results. In Nigeria, Dangote Refinery secured $1 billion in underwriting ahead of what could become Africa’s biggest IPO, even as Geregu Power settles a N6 billion bond obligation that had raised concerns among investors. All this and more in today’s Read It And Eat! |
Markets as of 19th of August 2026.. Cells in RED mean that the value is down, cells in Green mean the value is up.
MAJOR HEADLINES
China’s backflipping robot maker Unitree pops 542% in Shanghai debut
Unitree Robotics shares surged more than 500% at one point before paring gains to close over 460% higher on Wednesday, as the Chinese humanoid robot maker made its stock market debut in Shanghai. The shares climbed nearly 630% during the session before closing at 845 yuan ($126).
The Hangzhou-based robot maker, whose backflipping and dancing machines have drawn global attention, raised about 6.1 billion yuan ($905 million) in its IPO, according to its prospectus.
The IPO also attracted backing from Chinese AI company DeepSeek, which invested about 140.8 million yuan ($20.9 million), according to a company filing. Unitree’s existing investors also include Chinese tech giant Tencent.
Moderna shares surge 170% after cancer vaccine trial shows positive results
Moderna shares more than doubled Wednesday after it announced initial results from a study of an experimental cancer treatment that would be the first of its kind if approved by regulators.
Moderna and Merck are developing Intismeran, an individualized mRNA cancer vaccine designed around the unique mutations in each patient’s tumor. By training the immune system to recognize and attack cancer cells, the treatment is being tested alongside Merck’s Keytruda immunotherapy in hopes of delivering a more targeted approach to cancer treatment.
The study compared using Intismeran and Keytruda together on melanoma patients against using Keytruda alone. The companies said patients who received the combination lived longer without cancer returning or metastasizing than patients who got Keytruda alone. The companies did not say how long patients survived without cancer returning or whether patients lived longer overall. They said they plan to present the study results at an upcoming international medical meeting. Yahoo Finance
Nigeria's Dangote Refinery secures $1 billion underwriting ahead of IPO
Nigeria's Dangote Refinery has secured a $1 billion underwriting programme for its planned stock market listing that could become Africa's largest IPO, marking a major step toward bringing the continent's biggest refinery to investors.
The underwriting comprises a fully funded $600 million tranche for the refinery's completed private placement and a further $400 million commitment to support the planned initial public offering, the deal's co-financial advisers Marob Strategies and Lilium Capital said on Tuesday.
The successful completion of the private placement, together with the $400 million underwriting commitment ... in support of the planned IPO, reflects confidence in the refinery's strategic role," Aliko Dangote said in the joint statement. Reuters
Geregu Power pays N6 billion owed investors on N40.09 billion bond
Geregu Power Plc has paid the sum of N6 billion (N6,026,093,363.1) owed to investors on its N40.09 billion Series 1 Senior Unsecured Bond, ending the weeks of controversy over its default.
While the company has not officially announced this, sources close to the matter confirmed the development to Nairametrics.
The default, which Nairametrics first reported on August 9, had drawn criticism from across the capital market, with many analysts weighing implications for investor confidence in the corporate bond market. Nairametrics
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