TXR Robotics, a robot and logistics automation specialist affiliated with Eugene Group, announced on the 20th that it submitted a securities registration statement to the Financial Services Commission on the 17th of this month, officially commencing the public offering process for listing on KOSDAQ.
The total number of shares offered by TXR Robotics is 3,075,400. The desired offering price band is 11,500 to 13,500 KRW per share. Accordingly, the offering size is expected to be approximately 35.4 billion to 41.5 billion KRW, with an anticipated market capitalization ranging between 177.8 billion and 208.8 billion KRW. The demand forecast for institutional investors, which will determine the final offering price, will be conducted over five business days from February 11 to 17. Subscription for general investors will take place over two days, February 20 and 21. NH Investment & Securities and Shinhan Investment Corp. are serving as the lead underwriters.
Founded in 2017, TXR Robotics is a leading company in robot and logistics automation, born from the merger of Taesung System, a powerhouse in logistics automation, and Rotal, which possesses robotic automation technology. The company has internalized both hardware (H/W) capabilities, including Automated Guided Vehicles (AGV), Autonomous Mobile Robots (AMR), and sorters (automatic sorting equipment), and software (S/W) capabilities such as AGV and AMR control systems (ACS), sorter management systems (SMS), and intelligent automated warehouse control systems. Based on this, TXR Robotics operates a total solution business providing turnkey services from system design to procurement, manufacturing, construction, and maintenance for domestic and international distribution and manufacturing companies.
TXR Robotics has distinguished itself in the logistics automation sector by securing the number one market share in the wheel sorter market based on domestic e-commerce deliveries. It offers a product lineup of sorters equipped with ultra-compact and ultra-high-speed sorting technologies, including the intelligent wheel sorter (PIVOTLE), vertical tilt tray sorter (FULFILIO), and flap sorter (SPING). The company selects sorters optimized for the characteristics and throughput of the volumes handled by its clients and utilizes them in its solution business.
The company has secured top-tier clients, including the number one domestic e-commerce company and comprehensive logistics firms. It is also actively exporting globally to regions such as Europe and the Americas. Consequently, its performance has maintained a compound annual growth rate (CAGR) of 67.5% since 2021, achieving sales of 33.2 billion KRW and operating profit of 3.6 billion KRW in 2023. Based on preliminary 2024 results, it recorded sales of 56.1 billion KRW and operating profit of 5 billion KRW.
Um Inseop, CEO of TXR Robotics, stated, “As demand for robot and logistics automation increases across various domestic and international industries including e-commerce, logistics, secondary batteries, semiconductors, and bio sectors, related investments are also expanding. We aim to leverage the KOSDAQ listing as a stepping stone to advance AI and robotic technologies and become a global leader in the future robot and automation industry.”
The company plans to use the funds raised through this public offering to strengthen business capabilities and expand global presence by investing in R&D for new robot and logistics automation products, expanding production infrastructure, pursuing M&A with logistics robot companies, and establishing overseas joint ventures (JV). Additionally, TXR Robotics intends to actively diversify its robot business by launching new AI-based intelligent picking robots and special-purpose robots (for firefighting, smoke extraction, cleaning, etc.). Last month, the company signed a strategic memorandum of understanding (MOU) with Chinese robot manufacturer GuoXing Intelligent for exclusive domestic supply of firefighting robots and announced plans to release firefighting robot products adapted to the domestic environment.
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