Salem Radio Network News Thursday, September 28, 2023


South Korea’s Doosan Robotics prices IPO at top of range

By Joyce Lee

SEOUL (Reuters) -South Korea’s Doosan Robotics is set to raise 421.2 billion won ($317 million) in an initial public offering (IPO) after pricing the deal at the top of its marketed range.

The company is a leading maker of so-called collaborative robots that work side-by-side with humans such as robot arms in factories that perform assembling, loading and welding jobs.

The offering for institutional investors was priced at 26,000 won per share compared with a range of 21,000 to 26,000 won. Sales to retail investors at the same price will be completed later this week.

The company is due to make its market debut on Oct. 5.

($1 = 1,327.6200 won)

(Reporting by Joyce Lee; editing by Muralikumar Anantharaman and Edwina Gibbs)


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