Block Deal Sale of 538 Billion Won Worth of Doosan Robotics
Doosan Robotics completed a block deal sale worth 538 billion won, representing 8.3% of its market cap. Following the block deal sale, Doosan Robotics’ shares closed down 15%.
I continue to believe Doosan Robotics’ valuations are too high. It is currently trading at P/S of 232x which is one of the highest P/S multiples among companies in KOSPI.
In fact, it is even higher than SpaceX whose IPO could be valued at close to the 100x P/S multiple range.
Doosan Robotics cobots line-up (Source: Company data)
