Fri. Sep 22nd, 2023
    Robotics Stocks Soar as Investors Place High Expectations on the Industry

    Robotics stocks are experiencing a strong surge in the market, largely due to the heightened expectations of investors regarding the rapidly emerging industry. Additionally, the highly anticipated initial public offering (IPO) of Doosan Robotics, estimated to be worth over 1 trillion won ($750 million) in market capitalization, has further fueled excitement.

    Rainbow Robotics, the Kosdaq-listed robotics company founded by the KAIST research team, saw its shares trade at 239,000 won, marking a 12.74 percent increase from the previous trading day. The stock reached a record high of 235,000 won during mid-trading. Samsung Electronics acquired a 14.99 percent stake in Rainbow Robotics in March, solidifying its interest in the field. Rainbow Robotics specializes in the development of multi-legged robots and is most renowned for its humanoid robot, Hubo.

    Similarly, RS Automation, a robotics developer, experienced a rise to its year-high of 21,800 won, trading at 20,900 won by 1 p.m., indicating a 13.90 percent increase from the previous trading day. Neuromeka, an industrial robot manufacturer, also observed a boost of 10.98 percent to 48,000 won during mid-trading.

    Notably, Doosan Holdings, the parent company of various subsidiaries within the Doosan Group, witnessed a ceiling hit on the Kospi as its share price surged by 29.97 percent to 151,800 won during mid-trading. This increase is attributed to the performance of Doosan Robotics, Doosan’s robotics subsidiary, which plans to go public on the main Kospi bourse in October.

    Doosan Robotics, the largest collaborative robot supplier in Korea, is set to commence the subscription for its IPO shares on September 21. Approximately 16.2 million shares will be available for subscription, with a price range between 21,000 won and 26,000 won. The company is expected to raise between 340.2 billion won to 421.2 billion won.

    The surge in interest surrounding robotics stocks can be attributed to the increase in investments in the sector by major conglomerates like Samsung and Hanwha. Samsung Electronics recently announced its consideration of incorporating AI-powered humanoid robots into semiconductor manufacturing, while Hanwha is planning to establish a robotics subsidiary named Hanwha Robotics.

    Source: Joongang Daily News, Shin Ha-nee