S.Korea's Doosan Bobcat applies for IPO approval

HD Hyundai Infracore Co

04/07/2016 10:13

SEOUL, July 4 (Reuters) - South Korea's Doosan Bobcat Inc, 
the firm that controls U.S. construction machinery maker Bobcat, 
applied for preliminary exchange approval for an initial public 
offering (IPO) planned for this year, Korea Exchange said on 
Monday. 
    Seoul-based analysts said Doosan Bobcat could have an 
estimated market valuation of about 4 trillion won ($3.48 
billion), above the 2.7 trillion won that it was valued at last 
year according to the terms of a private shares issuance. 
 urn:newsml:reuters.com:*:nL3N162072 
    Top shareholder Doosan Infracore Co Ltd  042670.KS  owns 
66.6 percent of Doosan Bobcat. A spokesman for Doosan Infracore 
confirmed the application and said Doosan Bobcat planned to list 
this year, but declined to comment about the estimated market 
valuation. 
    JP Morgan  JPM.N  and Korea Investment & Securities are lead 
advisors for the IPO. 
 
 (Reporting by Joyce Lee) 
 ((jungyoon.lee@thomsonreuters.com; +82 2 3704 5609; Reuters 
Messaging: jungyoon.lee.thomsonreuters.com@reuters.net)) 
 
Keywords: DOOSAN BOBCAT IPO/