Corporate Logo(source: txr.kr)
TXR Robotics, a subsidiary of Eugene Group specializing in robotics and logistics automation, is preparing for an initial public offering(IPO) on the KOSDAQ market.
At an IPO press conference held in Yeouido, Seoul, on February 27, TXR Robotics CEO Um In-sup stated, "We aim to expand our business and leverage AI technology to provide clients with advanced robotics and automation solutions."
Founded in 2017, TXR Robotics was formed through the merger of TaeSung System, a logistics automation company, and Rotal, a robotics automation technology firm. The company offers a wide range of robotics and logistics automation products, integrating hardware and software solutions to provide turnkey services, including project planning, design, procurement, manufacturing, installation, and maintenance.
TXR Robotics has developed proprietary autonomous mobile robots(AMRs) equipped with high-precision sensor docking technology. It was also the first in Korea to commercialize omnidirectional mobility using Mecanum wheels and has AI-powered obstacle recognition technology embedded in its control and navigation systems(ACS).
TXR Robotics has shown robust financial growth, achieving a compound annual growth rate(CAGR) of 67.5% from 2021 to 2024. In its preliminary earnings report for 2024, the company reported revenue of 56.1 billion won and an operating profit of 5 billion won.
CEO Um explained, "Logistics automation accounts for 67% of our business, while robotics automation makes up the remaining 33%. Our core solutions drive high growth and stable revenue."
TXR Robotics plans to offer 3,075,400 shares in its IPO, with an expected price range of 11,500 won to 13,500 won per share. The company intends to use the IPO proceeds for logistics automation facility expansion, R&D, global expansion, debt repayment, and acquiring other securities.
The company is also set to expand automation solutions for various industrial processes, with plans to develop AI-powered piece-picking robots, firefighting and ventilation robots, cleaning robots, and railway inspection robots as part of its long-term global strategy.
Institutional investor demand forecast will take place from February 26 to March 5, followed by public subscription on March 10-11, with the listing scheduled for March 19. The IPO is being led by NH Investment & Securities and Shinhan Securities, while Eugene Investment & Securities will act as an underwriter, acquiring 15% of the total offering.
TXR Robotics opted for the price-to-sales ratio(PSR) instead of the more commonly used price-to-earnings ratio(PER) or price-to-book ratio(PBR) in determining its IPO price. While PSR reflects growth potential, it calculates corporate value based on revenue rather than net profit, leading to concerns that the IPO may be overvalued.
Addressing these concerns, the company stated in its securities filing, "The proposed price range does not represent our absolute valuation. Comparison companies such as Yuil Robotics, Robotis, Kornic Automation, and Hyundai Movex have different business structures, strategies, key products, sales mix, operational environments, and growth trajectories."
Corporate Logo(source: txr.kr)
TXR Robotics, a subsidiary of Eugene Group specializing in robotics and logistics automation, is preparing for an initial public offering(IPO) on the KOSDAQ market.
At an IPO press conference held in Yeouido, Seoul, on February 27, TXR Robotics CEO Um In-sup stated, "We aim to expand our business and leverage AI technology to provide clients with advanced robotics and automation solutions."
Founded in 2017, TXR Robotics was formed through the merger of TaeSung System, a logistics automation company, and Rotal, a robotics automation technology firm. The company offers a wide range of robotics and logistics automation products, integrating hardware and software solutions to provide turnkey services, including project planning, design, procurement, manufacturing, installation, and maintenance.
TXR Robotics has developed proprietary autonomous mobile robots(AMRs) equipped with high-precision sensor docking technology. It was also the first in Korea to commercialize omnidirectional mobility using Mecanum wheels and has AI-powered obstacle recognition technology embedded in its control and navigation systems(ACS).
TXR Robotics has shown robust financial growth, achieving a compound annual growth rate(CAGR) of 67.5% from 2021 to 2024. In its preliminary earnings report for 2024, the company reported revenue of 56.1 billion won and an operating profit of 5 billion won.
CEO Um explained, "Logistics automation accounts for 67% of our business, while robotics automation makes up the remaining 33%. Our core solutions drive high growth and stable revenue."
TXR Robotics plans to offer 3,075,400 shares in its IPO, with an expected price range of 11,500 won to 13,500 won per share. The company intends to use the IPO proceeds for logistics automation facility expansion, R&D, global expansion, debt repayment, and acquiring other securities.
The company is also set to expand automation solutions for various industrial processes, with plans to develop AI-powered piece-picking robots, firefighting and ventilation robots, cleaning robots, and railway inspection robots as part of its long-term global strategy.
Institutional investor demand forecast will take place from February 26 to March 5, followed by public subscription on March 10-11, with the listing scheduled for March 19. The IPO is being led by NH Investment & Securities and Shinhan Securities, while Eugene Investment & Securities will act as an underwriter, acquiring 15% of the total offering.
TXR Robotics opted for the price-to-sales ratio(PSR) instead of the more commonly used price-to-earnings ratio(PER) or price-to-book ratio(PBR) in determining its IPO price. While PSR reflects growth potential, it calculates corporate value based on revenue rather than net profit, leading to concerns that the IPO may be overvalued.
Addressing these concerns, the company stated in its securities filing, "The proposed price range does not represent our absolute valuation. Comparison companies such as Yuil Robotics, Robotis, Kornic Automation, and Hyundai Movex have different business structures, strategies, key products, sales mix, operational environments, and growth trajectories."