Cosmo Robotics, a company specializing in wearable robotics, recorded a remarkable debut on the KOSDAQ market on May 11, achieving a fourfold increase from its initial public offering (IPO) price.
According to the Korea Exchange, at 9:46 a.m., Cosmo Robotics was trading at 20,600 won, up 14,600 won (243.33%) from its IPO price of 6,000 won. Shortly after the market opened, the stock surged to 24,000 won, marking a 300% increase.
Founded in 2016, Cosmo Robotics specializes in medical and rehabilitation wearable robotics technology.
The company conducted its public offering from April 27 to 28, attracting significant interest with a subscription rate of 2,013.8 to 1, raising a total of 6.3 trillion won in deposits.
Cosmo Robotics plans to invest the 25.02 billion won raised from the IPO into expanding its presence in global markets, including the United States, Japan, Russia, Europe, and China. Additionally, the company aims to develop next-generation wearable robots that extend beyond the business-to-business (B2B) rehabilitation medical market into business-to-consumer (B2C) and business-to-government (B2G) sectors.
CEO Oh Joo-young stated, "Through this IPO, we have confirmed positive evaluations of Cosmo Robotics' technological capabilities and growth potential. We will accelerate our entry into the U.S. home-use market and expand into Japan, Russia, Europe, and China using the funds secured from the listing."
* This article has been translated by AI.
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