South Korea's Doosan Robotics rallies on reorganisation plans

Doosan Enerbility Co

12/07/2024 01:53

** Shares of Doosan Robotics Inc  454910.KS  rise as much as
17.9% to 100,600 won, their highest in nearly six months 
    ** Doosan Corp  000150.KS  said in regulatory filings on
Thursday Doosan Robotics will have Doosan Bobcat  241560.KS  as
a 100% subsidiary under Doosan Group's reorganisation plans
    ** Doosan said that once Doosan Robotics fully owns Doosan
Bobcat through business integration, it will delist Bobcat's
shares from the main KOSPI  .KS11 
    ** "Doosan Robotics, which will have Doosan Bobcat as a 100%
subsidiary, would be able to utilise Doosan Bobcat's network,
financing capabilities as well as management infrastructure in
advanced markets" - Doosan 
    ** Doosan said the expansion of automation in Doosan
Bobcat's production facilities could increase the supply of
robot products, contributing to Doosan Robotics' sales growth
    ** The broader market KOSPI  .KS11  down 1.2%, as of 0045
GMT