(Bloomberg) -- Doosan Robotics Inc. nearly doubled in its trading debut in Seoul after raising 421 billion won ($312 million) in South Korea’s largest initial public offering this year.Most Read from BloombergAlmost Anyone Can Become the House Speaker, Except Donald TrumpOzempic Is Making People Buy Less Food, Walmart SaysOnly an Equities Crash Can Rescue the Bond Market, Barclays SaysUS Stocks Buoyed by Big Tech Gains as Yields Slide: Markets WrapApple Considered, Rejected Switch to DuckDuckGo
-- Doosan Robotics Inc. nearly doubled in its trading debut in Seoul after raising 421 billion won in South Korea’s largest initial public offering this year.Apple Considered, Rejected Switch to DuckDuckGo From Google
The debut signals strong investor appetite for the sector in tech-savvy South Korea, which is the world’s top robot adopter, employing 10 manufacturing workers for every industrial robot. Shares in robotics makers were among the country’s most sought after this year as the government and local companies, including Samsung Electronics Co., stepped up investments.
“The local IPO market is definitely seeing a recovery,” said An Hyungjin, a fund manager at Billionfold Asset Management. “There were expectations that the stock would at least double as the robotics theme was getting a huge attention.”Founded in 2015, Doosan Robotics specializes in making robotic arms that work alongside humans on tasks beyond factory floors.
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