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Doosan Robotics stock price jumps by 105 percent from IPO price

Collected: 2023.10.05

Distributed: 2023.10.06

Source: Go Direct

[Courtesy of Doosan Robotics]

Doosan Robotics Inc., Doosan Group’s robot manufacturing unit, saw its stock price climb by more than 105 percent from the initial public offering (IPO) price on Thursday, the first trading day since its IPO.

As of 9:46 a.m. on Thursday, the robot stock was 53,300 won ($39.47) per share, up 105 percent from the initial price.

Since its inception in 2015, Doosan Robotics has focused on manufacturing collaborative robots, such as ordering kiosks. Collaborative robots are designed to work with human workers within a shared workplace.

The company ran its book-building session for five days until September 15, with the subscription ratio hitting 272 to 1 and a total of 1,920 institutional investors joining the competition. The IPO price was set at 26,000 won per share, the upper end in an indicated range of 21,000 to 26,000 won.

Subscriptions from retail investors for the company’s shares amounted to 1.49 million, with deposits hitting a record high for 2023 at 33 trillion won.

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