Doosan Skoda Power launches Prague IPO with price range of CZK 220-260 per share

Doosan

27/01/2025 07:58

PRAGUE, Jan 27 (Reuters) - Czech Republic-based turbine
manufacturer Doosan Skoda Power launched an initial public
offering on Monday, seeking to sell up to a third of its shares
to raise 2.53 billion crowns ($105.5 million) in a Prague
listing.
    The company, whose ultimate parent is South Korea's Doosan
Corp  000150.KS , serves customers including energy groups CEZ
 CEZP.PR , EPH and Orlen  PKN.WA , and earned a profit of 559.3
million crowns on revenue of 4.8 billion crowns in 2023.
    The offer will consist of existing and new shares, with the
price range in the offering set at 220-260 crowns per share, the
company said.
    Its sole shareholder, Doosan Power Systems, will offer up to
6.67 million existing shares, or 23% of its existing share
capital. 
    Doosan Skoda Power is also offering up to 2.9 million new
shares, which would increase its total number of shares to 31.9
million, valuing the firm at 8.3 billion crowns at the upper end
of the IPO price range. 
    Up to 957,000 shares will also be available in an
overallotment, the company said.
    Doosan Power Systems will still own at least 67% of the
company after completing the offering.
    ($1 = 23.9870 Czech crowns)

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