Doosan Bobcat, a unit of power and construction equipment conglomerate Doosan
, said its initial public offering next month could raise up to 2.45 trillion won (US$2.25 billion).
Doosan Bobcat will make its market debut on South Korea’s main bourse KOSPI on Oct. 21. The company submitted listing plans to financial authorities on Sept. 8.
The preliminary price range for the planned IPO was 41,000 to 50,000 won per share, with a total 49 million existing shares to be listed.
and Doosan Engine
own a majority 78.4-percent stake in Doosan Bobcat, which operates 31 subsidiaries in 20 countries.
Doosan Infracore will sell 23.2 million Doosan Bobcat shares in the offering.
Doosan Bobcat is a leading player in the small construction machinery sector in the United States, according to the Korea Exchange.
By Park Han-na (email@example.com