Doosan Skoda Power announces plans for Prague IPO

Doosan

15/01/2025 07:38

PRAGUE, Jan 15 (Reuters) - Czech-based turbine
manufacturer Doosan Skoda Power on Wednesday announced plans for
an initial public offering on the Prague stock exchange.
    The company, whose ultimate parent is South Korea's Doosan
Corp  000150.KS , said it expected the offering would consist of
21.5-26.5% of existing shares and up to the equivalent of 5-10%
of shares to be issued by the company.
    The selling shareholder, Doosan Power Systems, would
maintain a majority of no less than 66.67%, it said.
    Raiffeisen Bank International, its Czech unit
Raiffeisenbank, and WOOD & Company Financial Services will run
the IPO, the company said.
    The company, whose main customers include energy groups CEZ
 CEZP.PR , EPH and Orlen  PKN.WA , generated revenue of 3.9
billion crowns ($159 million) in the first nine months of 2024,
earning a profit of 355 million crowns, which was steady with
the same period in 2023.
    ($1 = 24.5420 Czech crowns)

 (Reporting by Jason Hovet; editing by Jason Neely)
 ((jason.hovet@thomsonreuters.com;))