Doosan Robotics in ₩421 Billion IPO
October 5, 2023
Cleary Gottlieb represented Doosan Robotics Inc. in its ₩421 billion (approximately $318 million) initial public offering of common shares.
The transaction represented the first successful IPO listed in Korea with an international tranche since January 2022.
Korea Investment & Securities and Mirae Asset Securities served as joint global coordinators and joint bookrunners; Credit Suisse, KB Securities, and NH Investment & Securities served as joint bookrunners; and UBS served as a co-manager. The shares were sold through a public offering in Korea and a Reg S offering elsewhere. The offering priced on September 19, 2023, and closed on September 26, 2023. The common shares began trading on the KRX KOSPI Market of the Korea Exchange on October 5, 2023.
Doosan Robotics is one of the global leaders in the design, development, and manufacture of advanced collaborative robots, or “cobots.” Cobots are low-cost, easy-to-deploy, and simple-to-program robots designed to mimic the motion of a human arm and can be fitted with task specific grippers or end effectors to support a wide range of industrial and other applications. Leveraging its rapid growth since its incorporation in 2015 and the commencement of the commercial production of its first cobots in early 2018, Doosan Robotics has maintained and strengthened its position as a leading global provider of cobots that meet the needs and demands of its worldwide customer base.