Doosan Robotics, a South Korean collaborative robotic (cobot) producer, skilled a exceptional debut on the inventory market with its shares surging greater than 100%. The corporate’s shares began buying and selling at 59,100 received, representing a major enhance of over 127% from the preliminary IPO value of 26,000 received. Though the inventory reached a excessive of 67,000 received, it finally closed at 51,400 received.
Established in 2015, Doosan Robotics makes a speciality of manufacturing collaborative robots that may work alongside people to hold out numerous duties equivalent to loading, assembling, welding, and even pouring espresso. The corporate managed to boost 421.2 billion received ($317 million) via its IPO, making it the most important preliminary public providing in South Korea to date this yr.
Doosan Robotics’ Chief Government Officer, Ryu Junghoon, said that the funds raised from the IPO might be used to develop the corporate’s enterprise abroad and pursue strategic acquisitions. The corporate is particularly enthusiastic about buying corporations that possess expertise able to enhancing the mobility of its robots. By introducing robots able to traversing warehouses and factories to move gadgets, Doosan intends to concentrate on collaborative machines like robotic arms moderately than humanoid robots.
Along with its enlargement plans, Doosan Robotics can also be engaged on incorporating synthetic intelligence (AI) into its machines. The corporate just lately cast a partnership with Microsoft to make the most of Azure OpenAI for a GPT-focused management system. This can permit customers to present voice instructions to the robots, enabling them to autonomously decide the sequence of actions required to meet the request.
Doosan Robotics’ profitable IPO signifies vital investor demand, highlighting the rising want for its merchandise. Analyst Yang Seung-yoon from Eugene Funding & Securities believes that the corporate nonetheless has appreciable alternatives, regardless of competitors from established gamers like Common Robots and Fanuc. Elements like labor shortages, rising labor prices, and demographic modifications may fit in Doosan’s favor. Yang explains that being an early entrant out there permits Doosan Robotics to determine compatibility with present services.
Whereas Europe, North America, and South Korea every contributed round 30% to Doosan Robotics’ gross sales final yr, the corporate expects these areas to contribute much more because the market expands. In keeping with Doosan’s projections, the worldwide robotic trade will expertise an annual progress price of roughly 36%, reaching $2.157 billion by 2025, up from $966 million in 2022.
Though Doosan Robotics had a profitable IPO, its father or mother firm, Doosan Corp, skilled a major decline in its inventory value. Doosan Corp’s shares dropped over 19% from the earlier shut. Nevertheless, the father or mother firm nonetheless holds a market cap of 1.78 trillion received.
In conclusion, Doosan Robotics has made a exceptional buying and selling debut following its IPO, highlighting investor curiosity and the market potential for its collaborative robotic options. With plans to develop internationally, incorporate AI expertise, and capitalize on the rising demand for robotic automation, Doosan Robotics is positioning itself as a key participant within the world robotics trade.
Sources:
– MarketWatch
– Bloomberg
