Doosan Robotics files for IPO on Kospi

A collaborative robot named E-series developed by Doosan Robotics [DOOSAN]

Doosan Robotics, Korea’s largest collaborative robot supplier, is set to open a subscription for its initial public offering (IPO) shares.

The company filed a securities report to the Financial Services Commission for a listing on the main Kospi bourse on Wednesday.

A total of 16.2 million shares of Doosan Robotics will be open for subscription, with a price band set between 21,000 won ($16) and 26,000 won. The company expects to raise between 340.2 to 421.2 billion won.

A collaborative robot, or cobot, is an industrial robot designed to operate in collaboration with humans at production sites.

Founded in 2015, Doosan Robotics remained in the lead in the domestic collaborative robot market since 2018 with 13 product line-ups for manufacturing, healthcare, and services.

Doosan Robotics has the fourth largest share in the global market except China since 2021. About 60 percent of its total revenue comes from overseas markets consisting of some 40 countries, according to the company. Doosan Robotics also set up a local sales entity in Texas in 2022.

Proceeds from the IPO will be used to improve production capacity as well as research and development capabilities.

Doosan, the holdings company of the conglomerate group, currently owns 90.9 percent of Doosan Robotics. Doosan Robotics posted an operating loss of 12.1 billion won last year.

The book building will run from Sept. 11 to 15, and the subscription will be open for two days starting Sept. 21. Mirae Asset Securities and Korea Investment and Securities are the main underwriters.

BY SHIN HA-NEE [shin.hanee@joongang.co.kr]