Rainbow Robotics submits securities registration statement... to be listed on KOSDAQ in January next year

Total Public Offering Amount Expected to Reach Up to 23.9 Billion KRW

[Asia Economy Reporter Minwoo Lee] Rainbow Robotics, a robot platform specialist company, has officially begun the procedures for listing on the KOSDAQ market in January next year.

Rainbow Robotics announced on the 30th that it submitted a securities registration statement for KOSDAQ listing to the Financial Services Commission on the 27th. It plans to proceed with the full process aiming for a listing in January next year.

Demand forecasting will be conducted on January 11-12 next year, followed by subscription from January 15-18. The listing is expected to be completed by the end of January. Through this listing, 2.65 million shares will be offered to the public. The expected public offering price is 7,000 to 9,000 KRW, with the total public offering amount projected to reach 18.6 billion to 23.9 billion KRW. The lead underwriters are Mirae Asset Daewoo and Daishin Securities.

Founded in 2011, Rainbow Robotics is a robot platform specialist company established by researchers from the Humanoid Robot Research Center at the Korea Advanced Institute of Science and Technology (KAIST). It developed Korea's first humanoid bipedal walking robot, 'HUBO.' In 2015, it also won the World Robot Challenge for disaster robots hosted by the United States Department of Defense's Defense Advanced Research Projects Agency (DARPA).

Rainbow Robotics developed collaborative robots based on core component technology internalization and technology accumulated over about 20 years of developing 'HUBO.' Collaborative robots are 'robot arms' composed of six or more joints. Unlike industrial robots, they can collaborate in the same space as humans. They are evaluated to maximize work efficiency by replacing simple repetitive tasks. They can be utilized not only in manufacturing sites but also in service sectors.

In the future, it plans to introduce a 'mobile manipulator' that combines a collaborative robot with a mobile robot capable of moving arbitrarily within a given environment. It will also launch a robot laser toning system that automates laser skin treatment, a medical device for which it holds original patents.

Lee Jeong-ho, CEO of Rainbow Robotics, said, "The robot market is an industry with unlimited growth potential and a core future industry. Through this listing, we will promote our world-class robot technology to expand domestic and international market channels and leap forward as a global robot platform specialist company."

This content was produced with the assistance of AI translation services.