Kim & Chang provided legal advice to Doosan Robotics (“Doosan”) with respect to the listing of its shares on the KOSPI market of the Korea Exchange (the “KRX”).

As a manufacturer of industrial robots, collaborative robots (“Cobots”) in particular, Doosan is a leading company in the global cobot market. With the funds (KRW 416.2 billion) raised through the IPO, Doosan plans to expand its factories, carry out R&D regarding next-generation robots, and invest in promising companies.

For the listing of Doosan’s shares, our firm provided comprehensive legal advice including the following: (i) review of Doosan’s articles of association and internal regulations; (ii) preliminary review of regulations applicable to a listed company, including the Korean Commercial Code, the Financial Investment Services and Capital Markets Act, and KRX regulations; (iii) review of various agreements executed in the process of the IPO and listing, including the Overseas Underwriting Agreement, the Firm-Commitment Underwriting Agreement, and the Expense Side Letter; (iv) review of IPO documents including the registration statement and the offering circular, and performance of related due diligence; and (v) consultation with the KRX and the Financial Supervisory Service.

Even though the IPO market remained stagnant for a while, Doosan successfully raised funds as its technical prowess and the cobot market’s growth potential caught the attention of investors. Doosan’s listing created momentum, which changed the atmosphere of the IPO market.

As Doosan’s domestic and overseas IPO took place concurrently, it was important to consider securities-related regulations in Korea and other countries, and to closely cooperate with advisory firms specialized in overseas laws.

Considering that Doosan is a company with high growth potential, our firm thoroughly reviewed legal issues in relation to indicating pro forma financial information in the disclosure documents.