Sign up to create alerts for Instruments,
Economic Events and content by followed authors
Free Sign Up Already have an account? Sign In
Quotes
All Instrument Types
- All Instrument Types
- Indices
- Equities
- ETFs
- Funds
- Commodities
- Currencies
- Crypto
- Bonds
- Certificates
Please try another search
Extended Sale! Save on premium data with Claim 60% OFF
Doosan Robotics' IPO garners interest from sovereign wealth funds and major investors
Editor
Published Sep 20, 2023 04:41AM ET
© Reuters.
Doosan Robotics, the largest collaborative robot supplier in Korea, is attracting significant attention from major investors including sovereign wealth funds and long-funds for its upcoming initial public offering (IPO). The offering price has been set at the upper end of the suggested price band, reflecting strong interest during the institutional book building period.
Potential investors include Norway's Norges Bank Investment Management, Singapore's sovereign wealth fund GIC, BlackRock (NYSE:BLK), and Goldman Sachs. Although Doosan has not confirmed the names on the list, Mirae Asset Securities and Korea Investment and Securities, the lead underwriters for the company, announced that foreign sovereign wealth funds and large-cap long-term funds participated in the book building. This level of participation is rare for an IPO deal with an offering size less than 500 billion won ($375.8 million).
The five-day institutional book building period concluded on September 15, with the offering price set at 26,000 won, at the top of its price band. The process saw participation from a total of 1,920 institutional investors from both domestic and international markets who applied for over 2.4 billion shares combined. Among these participants, 51.6 percent agreed to a lockup after the IPO.
Doosan plans to issue 16.2 million shares through the IPO and expects to raise 421.2 billion won ($355 million), with an estimated market capitalization of 1.69 trillion won ($1.42 billion). The subscription period for retail investors will open on Thursday and will run for two days. The company anticipates beginning trading on the main Kospi bourse on October 5.
Proceeds from the IPO will be utilized to enhance production capacity as well as research and development capabilities, further solidifying Doosan Robotics' position in the industry.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.
Related Articles
Add Chart to Comment
Confirm Block
Are you sure you want to block %USER_NAME%?
By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.
%USER_NAME% was successfully added to your Block List
Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.
Report this comment
I feel that this comment is:
Comment flagged
Thank You!
Your report has been sent to our moderators for review
Add a Comment
We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:
Enrich the conversation, don’t trash it.
Stay focused and on track. Only post material that’s relevant to the topic being discussed.
Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.
Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.