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Investing.com -- VenHub Global Inc., a developer of fully automated retail stores, plans to go public through a direct listing on a US exchange, the company’s founder and CEO Shahan Ohanessian revealed to Bloomberg.
The company filed confidentially with the US Securities and Exchange Commission last week, abandoning its earlier plan to go public by merging with a blank-check firm. In a direct listing, companies list on stock exchanges without raising new funds.
According to Ohanessian, VenHub’s shares could begin trading publicly either next month or in early October.
"We’re not in a rush to raise capital for the sake of raising capital," Ohanessian said in an interview with Bloomberg News. He added that the firm is more focused on steady growth by finding the right business partners.
VenHub uses robotics and artificial intelligence to automate its retail store operations. The company’s approach to going public reflects its strategic focus on sustainable growth rather than immediate capital raising.
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