Doosan Robotics’ collaborative robots (Courtesy of Doosan)
South Korea’s Doosan Robotics Inc. aims to attract an estimated 340.2 billion won ($255.8 million) in its initial public offering for Kospi’s main debut next month, as expectations grow for the robotics industry’s boom.
Doosan Group’s robotics division is expected to reach a market capitalization of 1.36 to 1.68 trillion won ($1 to 1.3 billion) after listing. After the IPO, Doosan Group will own a 68.2% stake in the robotics company and the outstanding shares will account for 24.8%.
The indicative range is between 21,000 won and 26,000 won, based on 38 the average price-to-earnings (P/E) ratio of the global robotics industry.
Doosan Robotics will conduct bookbuilding for institutional investors between September 11th and 15th and will accept private subscriptions on September 21st and 22nd.
Some analysts reported a positive outlook for the robotics company.
“Doosan Robotics is the fourth largest collaborative robot manufacturer with a market share of 5.4% worldwide (excluding China). Its revenue, which was 45 billion won last year, will increase 4.6 times to 252 billion won in 2026 thanks to sales growth in robotic arms and robotic solutions,” said Bae Ki-yeon, research analyst at Meritz Securities Co. .
“The company will be in surplus with an operating profit margin of 8.7% in 2025 and will report 14% and 28.6% of the numbers in 2026 and 2027, respectively. The fair value of the stock would be 29,000 won and the market capitalization could reach 1.9 trillion won,” Bae added.
“We are positive about the company’s growth potential and its plan to achieve it,” said Yang Seung-yoon, analyst at Eugene Investment & Securities.
However, it is difficult to make meaningful comparisons of the company with global rivals because the robotics market industry has a relatively short history, Yang added.
Some listed robotics stocks in Korea have risen as the robotics industry booms.
Shares of robotics systems engineering company Rainbow Robotics, the eighth-largest market capitalization on the junior Kosdaq, closed at 212,500 won on Monday, about 2.3 times the closing price two months ago. Collaborative robotics maker Neuromeka closed at 42,800 won on Monday, up 47% over the past two months.
Write to Eunhyeok Ryu at [email protected]
Jihyun Kim edited this article.
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