Doosan Robotics has debuted in Korea’s biggest initial public offering (IPO) this year, raising 421.2 billion won (US$311 million) on Thursday.
The company attracted 33 trillion won in deposits for the IPO subscription from retail investors during a two-day subscription period last month, according to a report in The Korea Times.
After its Seoul debut, shares in the company more than doubled compared to its IPO price amid growing demand for robotics companies.
The company's share price jumped from a subscription price of around 26,000 won (US$19.25) to 59,100 won (US$43.75) per share, rising to as much as 67,600 won (US$50) in early trades before closing at 51,400 won (US$38.05).
Its market capitalisation was approximately 3.33 trillion won (US$2.46 billion).
The robotics company, which designs robots that can serve hot beverages, was founded in 2015 and has partnerships to use its technology in the service industry.
It generated a 13.2 billion won (US$9.77 million) operating loss in 2022, with sales of about 44.9 billion won (US$33 million).