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SEOUL : Shares in South Korea’s Doosan Robotics soared above their initial public offering (IPO) price in the company’s market debut on Thursday based on investors’ bullish outlook for the collaborative robot maker.
The company raised 421.2 billion won ($317 million) in South Korea’s IPO this year, having priced the shares at 26,000 won each, the top of the price range flagged to investors.
Doosan Robotics shares opened at 59,100 won each and rose to as much as 67,600 won in early trade, more than twice the IPO price.
The company is a leading maker of so-called collaborative robots that work side-by-side with humans such as robot arms that can perform assembling, loading and welding tasks.
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