Clobot seeks to list Kosdaq in October

South Korea's robot software company Clobot said on Tuesday that it submitted a registration statement to the Financial Services Commission and has begun the formal procedures for listing on the Kosdaq market.

Established in 2017, Clobot develops and supplies software for service robots and has over 130 clients.

It is engaged in business collaborations with major projects involving Hyundai Motor and Boston Dynamics.

Clobot has secured cumulative investments totaling 32 billion won ($24 million) from Hyundai Motor Group's ZER01NE, Naver D2SF, and Lotte Ventures.

Last year's revenue was 24.2 billion won ($18.2 million), with an operating loss of 5.7 billion won ($4.3 million).

Clobot plans to offer a total of 3 million shares, with an expected offering price range of 9,400 - 10,900 won ($7.06 - 8.19), and a total offering amount of 28.2 - 32.7 billion won ($21.2 - 24.6 million).

Demand forecasting will take place from September 23 to 27, with the general subscription from October 2 to 4.

The listing is expected in October. Mirae Asset Securities is the lead underwriter.

Write to Joo-Wan Kim at kjwan@hankyung.com