TXR Robotics, a company specializing in robotics and logistics automation, has set its initial public offering price at 13,500 won.
TXR Robotics announced that it confirmed its initial public offering price at 13,500 won, the upper end of the desired offering price range (11,500 to 13,500 won), after conducting demand forecasting for institutional investors from Feb. 26 to Mar. 5.
A total of 2,342 institutional investors participated in the demand forecasting, applying for 1,989,967,000 shares. Ninety-nine point nine percent of participating institutions (including those that did not indicate a price) proposed prices above 13,500 won. The competition rate was recorded at 862.62 to 1.
Founded in 2017, TXR Robotics is a company in the Eugene Group specializing in robotics and logistics automation. The key product is a logistics sorting sorter, and it has also developed autonomous mobile robots (AMR) in-house.
In particular, it is the number one business operator in the domestic e-commerce logistics center wheel sorter market, with a backlog of orders amounting to 3 billion won in the robotics sector and 28.6 billion won in the logistics sector as of the end of last year.
Based on the confirmed initial public offering price of 13,500 won, the total amount raised is approximately 41.5 billion won, and the company plans to use the funds for expanding production facilities and repaying borrowing funds.
Eom In-seop, the CEO of TXR Robotics, noted, "It seems that our solid performance based on our own robotics and logistics automation technology, in addition to the growth potential of the industry, has received positive evaluations."
Meanwhile, TXR Robotics plans to conduct its general subscription on the 10th and 11th and is scheduled to be listed on the KOSDAQ market on the 20th. The underwriting will be handled by NH Investment & Securities and Shinhan Investment Corp.