Beer bot: Doosan Robotics is South Korea’s largest maker of service robots
A firm behind beer-serving robots was set to make a bumper debut on the stock market in South Korea overnight – valuing it at over £1billion.
Doosan Robotics, the country’s largest maker of service robots, was due to list in South Korea’s biggest initial public offering of the year.
Shares were priced at 26,000 won (£15.82) apiece, with retail investors offering to buy £200million of the stock, it said, which would value it as much as £1.1billion.
Founded in 2015, Doosan specialises in building robotic arms to work alongside humans on repetitive tasks, from making coffee to moving luggage at airports and serving pints of beer.
Robotics is exploding across the world, and could be worth as much as £180billion by 2030.
‘This is a market that’s starting to take off,’ chief executive Ryu Junghoon said. South Korea is the world’s top robot adopter but countries such as the UK are increasingly using the tech to drive efficiency.
Doosan Robotics said proceeds from its listing will go towards expanding production and global reach.
The firm competes with the likes of Japan’s Fanuc and Denmark’s Universal Robots.
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