Cosmo Robotics attracted more than 6 trillion won in subscriptions from retail investors in its initial public offering.
The company drew approximately 6.3 trillion won ($4.3 billion) in margin deposits during a two-day public subscription that concluded the previous day, according to investment banking industry sources Tuesday. The final subscription ratio reached about 2,015 to 1, with roughly 460,000 investors participating. Cosmo Robotics is scheduled to list on the KOSDAQ market on Dec. 11.
In the earlier institutional bookbuilding, Cosmo Robotics set its final offering price at 6,000 won, the top of the indicative range. A total of 2,257 institutions participated, recording a competition ratio of 1,140.11 to 1. All participating institutions submitted bids at or above the top of the range, including those without specified prices. Yuanta Securities Korea and NH Investment & Securities are serving as lead underwriters, with Eugene Investment & Securities joining the underwriting syndicate.
Cosmo Robotics holds a portfolio of wearable robots spanning all age groups, from infants to the elderly. The company currently operates overseas subsidiaries in five major countries, including the United States, Japan, Russia, countries in Europe and China, and is expanding its share of the global wearable robot market through partnerships with local firms in 13 countries. Cosmo Robotics plans to accelerate its push into the global wearable market on the back of the listing.
