S.Korea Doosan Bobcat says IPO to raise about $790 mln (updated)

Hanwha Engine

06/11/2016 23:30

* To be S.Korea's 2nd-largest listing this year 
    * Largest is Samsung BioLogics' listing on Thurs 
 
 (Adds milestone, background) 
    SEOUL, Nov 7 (Reuters) - Doosan Bobcat Inc's  241560.KS  IPO 
will be South Korea's second-largest this year, raising about 
900.8 billion won ($789.86 million) after the construction 
equipment maker on Monday said it priced around the middle of 
its range.  
    Doosan Bobcat said in a regulatory filing it priced the 
initial public offering at 30,000 won per share after last 
week's bookbuilding, compared with an indicative range of 
29,000-33,000 won per share. It will list a total of about 30 
million shares, or 30 percent of the company.    
    In October, Doosan Bobcat slashed the amount it aims to 
raise in the listing, now expected Nov. 18, by more than half 
after investors baulked at the previous price tag.  urn:newsml:reuters.com:*:nL4N1CJ30V 
    The listing will come after Samsung BioLogics Co Ltd's 2.25 
trillion won offering on Thursday, South Korea's largest IPO 
since 2010.  urn:newsml:reuters.com:*:nL4N1CY2BQ 
    Affiliates Doosan Infracore Co Ltd  042670.KS  and Doosan 
Engine  042670.KS  own a combined 78.4 percent stake in Doosan 
Bobcat as of on Monday, and will raise a combined 252.2 billion 
won in the listing, both firms said in regulatory filings.   
     
($1 = 1,140.4500 won) 
 
 (Reporting by Joyce Lee; Additional reporting by Yun Hwan Chae; 
Editing by Stephen Coates) 
 ((YunHwan.Chae@thomsonreuters.com;)) 
 
Keywords: DOOSAN BOBCAT IPO/