Bigwave Robotics Sets IPO Price at Top Range of 18,000 Won

Bigwave Robotics has finalized its public offering price at 18,000 won, the highest point of the desired price band.

According to Bigwave Robotics on September 15, a total of 2,255 institutions from Korea and overseas participated in the demand forecasting that was conducted from September 7 to 11, resulting in a competition ratio of 1,109.37 to 1. Of the participating volume, 93.83% submitted bids at or above the upper end of the price band (including those who did not specify a price). The mandatory holding commitment ratio for institutional investors was approximately 18.14% based on the number of shares applied for. Accordingly, the total amount to be raised through the offering will be approximately 28.8 billion won, and the expected market capitalization after listing is about 184.9 billion won.

Even in a market environment where investors are becoming increasingly selective and market volatility is expanding, institutional investors responded positively to Bigwave Robotics’ proven performance, its industrial humanoids, and its clear growth driver in the North American market—placing their bids mostly at the highest price in the band. In addition, despite the high volatility in the market, the company secured a high level of mandatory holding commitments compared to recently listed companies. This is seen as evidence that institutional investors have a strong appreciation for Bigwave Robotics' fundamentals and future value potential.

As of the preliminary settlement in July this year, Bigwave Robotics’ industrial humanoid solution accounted for 21.2% of the company’s cumulative sales, becoming the main revenue generator just one year after market entry. In North America, the company secured its first local project based in Detroit and expanded its pipeline to over 7 billion won.

The proceeds raised from this public offering will be used by Bigwave Robotics for: ▲development of industrial humanoids and new business expansion (4.2 billion won) ▲global expansion and marketing (16.5 billion won) ▲acquisition of robot device assets for subscription-based RaaS business (800 million won) ▲and enhancing operational processes (1.2 billion won).

Min-gyo Kim, CEO, said, "I would like to thank the institutional investors who highly valued our technological edge and global growth potential despite the current market volatility," adding, "With industrial humanoids and the North American market as our two growth pillars, we will expand our RaaS business model, proven in Korea, globally and become a leading company in industrial physical artificial intelligence (AI) standards."

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