HIGEN RNM to debut on Kosdaq in June

[Courtesy of IR KUDOS Corp.]

HIGEN RNM Co., a robot parts manufacturer in South Korea, has set the goal of becoming a growth partner in the robotics industry through its smart actuators, the company’s chief executive officer said on Wednesday.

“The more complex movements a robot performs in a complex environment, the more joints it needs,” said Kim Jae-hak, the company’s CEO, at a press conference held to discuss its initial public offering (IPO) plan.

“Control theory has rapidly advanced as big tech companies enter the robotics industry, but there is still a shortage of actuators capable of performing complex commands,” he said.

Actuators are components responsible for the movement of parts such as legs and arms necessary for robot operation. They play a crucial role in determining the robot‘s movements and task execution.

HIGEN RNM, established in 1963 as the motor business unit of LG Electronics Inc., is a specialist in sub-motor modules. In its early days, the company built its expertise by designing and manufacturing general-purpose motors used in petrochemicals and machine tools.

The company is offering 3.04 million shares in the upcoming IPO. Its desired offering price ranges between 4,500 won ($3.29) and 5,500 won per share, with a total offering amount of 15.3 billion won to 18.7 billion won.

The estimated market capitalization is between 139 billion won and 169.9 billion won.

The company aims to go public by the end of June 2024 after receiving public subscriptions on June 18 and 19.