This article was displayed on the ChosunBiz MoneyMove (MM) site at 9:51 a.m. on Jun. 9, 2026.
Financial institutions that participated in the Doosan Robotics price return swap (PRS) transaction sold all of the remaining 2.1 million shares. The institutions, which joined the transaction expecting revenue from last year's rise in Doosan Robotics' share price, finished recouping their investment by selling the last batch through a block deal (after-hours bulk trade).
According to the investment banking (IB) industry on the 9th, seven financial institutions, including Korea Investment & Securities Co., KB Securities, and NH Investment & Securities, recently sold all of their remaining 2.1 million Doosan Robotics shares to domestic and overseas institutional investors. The size is equivalent to about 3.2% of the total shares outstanding.
The total sale size is about 302 billion won ($196 million). Based on this, the per-share sale price is about 144,000 won, indicating the transaction was executed at a discount of about 8.9% compared with the previous trading day's closing price on the 4th (157,900 won). UBS and Korea Investment & Securities Co. jointly led the block deal.
This transaction disposed of the last remaining shares held by the financial institutions. In May, they sold 4.6 million shares (7.1%) and 5 million shares (7.7%) through two block deals. They then disposed of the remaining 2.1 million shares (3.2%) this time, clearing out all the holdings secured last year. As a result, all 11.7 million shares under the Doosan Robotics PRS concluded last year were absorbed by the market.
Doosan Group raised large-scale funds last year through a PRS contract using its Doosan Robotics equity. A PRS is a derivative transaction in which a financial institution acquires shares and later settles gains and losses from share price fluctuations with the counterparty. At the time, seven financial institutions, including Korea Investment & Securities Co., KB Securities, and NH Investment & Securities, invested about 947.7 billion won to secure 11.7 million shares of Doosan Robotics. The acquisition cost per share was about 81,000 won.
Doosan Robotics' share price has since risen sharply, supported by expectations for growth in artificial intelligence (AI) and the robotics industry. When the PRS was signed last year, the stock was just above the low-80,000 won range, and it recently climbed to around the mid-150,000 won level, nearly doubling. On a simple comparison using the final block deal price this time, it is about 77% higher than the initial acquisition price.
The financial institutions are estimated to have recovered a total of 1.2784 trillion won through the three block deals. Considering that the funds invested when the PRS was signed last year amounted to 947.7 billion won, they recovered an amount exceeding the initial investment by about 330 billion won. The simple investment return based on the recovery amount is estimated at about 35%.
The industry believes Doosan also likely secured a considerable amount of settlement gains due to the PRS contract structure. Because a PRS settles the difference between the market prices of the underlying asset and the reference price at maturity or early settlement, settlement payments arise for a portion of the gains from a rising share price. The assessment is that a structure was created in which the financial institutions secured investment revenue from the rising share price, while Doosan raised large-scale liquidity and shared a portion of the upside.
An industry official said, "With this transaction, all of the Doosan Robotics shares held by the financial institutions that participated in last year's PRS have been cleared."