Shares of Doosan Robotics surged of their first day of buying and selling on South Korea’s inventory change Thursday after the corporate raised greater than $310 million within the nation’s greatest IPO of the 12 months.
Shares of the South Korean collaborative robot-arm maker affiliated with conglomerate Doosan Corp., opened at 59,100 Korean gained ($43.67) apiece, greater than double the preliminary public providing worth of KRW26,000.
The inventory later pared a few of its early sturdy good points however continued faring properly, buying and selling comfortably above KRW53,000 for a lot of the morning session.
Doosan Robotics’ sturdy efficiency introduced its estimated market capitalization to nearly KRW4 trillion ($2.96 billion) primarily based on complete widespread shares issued up to now.
The nation’s largest producer of robotic arms efficiently raised KRW412.20 billion ($304.6 million) in its IPO final month. It had priced shares on the prime of its marketed vary within the oversubscribed providing, with retail traders providing to purchase as much as KRW33 trillion of the inventory, a file quantity in South Korea for 2023.
Established in 2015, Doosan Robotics reported income of KRW44.9 billion and an working lack of KRW13.2 billion for 2022, in accordance with the Korea Exchange.
Its chief government advised native media in September that he expects the corporate to show a revenue in 2024.
Source web site: www.marketwatch.com
