Doosan Robotics Makes a Striking Debut on the Seoul Stock Exchange

Doosan Robotics Inc., a subsidiary of Doosan Co., made a significant impact in the market with its initial public offering (IPO) on Thursday. The South Korean company, recognized for its robotic arm manufacturing, saw its stock price more than double during early trading, reaching 67,600 won. Through the IPO, the company successfully raised 421 billion won ($309 million), marking it as the top IPO in South Korea for the year.

The strong debut reflects a growing interest and investment in the robotics sector, with major industry players such as Samsung Electronics, Rainbow Robotics, and clients including Hyundai Motor and LG Electronics showing heightened engagement. South Korea, a global leader in the adoption of industrial robots, is increasingly focusing on technology-driven sectors.

Founded in 2015, Doosan Robotics’ IPO resulted in a market capitalization of nearly KRW 4 trillion ($2.96 billion), despite reporting an operating loss of KRW 13.2 billion against revenues of KRW 44.9 billion in 2022. The offering was oversubscribed, indicating robust investor confidence in the company’s future potential.

CEO Ryu Junghoon is optimistic about the company’s path to profitability by 2024. The IPO was facilitated by Mirae Asset Securities and Korea Investment & Securities, reinforcing the company’s position in the market.