S.Korea Doosan Bobcat to refile for up-to-$1 bln IPO on Thursday - IFR

HD Hyundai Infracore Co

13/10/2016 05:34

SEOUL, Oct 13 (Reuters) - South Korean construction 
equipment maker Doosan Bobcat Inc aims to file a revised version 
of its initial public offering (IPO) prospectus later on 
Thursday, hoping to raise roughly $800 million-$1 billion, IFR 
reported on Thursday citing people close to the deal. 
    Doosan Bobcat on Monday cancelled plans for an up to 2.45 
trillion won ($2.2 billion) initial public offering after it 
failed to match the firm's valuation targets, saying it planned 
to re-submit a prospectus soon in order to list as soon as 
November.  urn:newsml:reuters.com:*:nL4N1CF0L2  
    The firm is understood to be targeting a price of up to 
33,000 won per share, with 30 percent of the company to be sold 
in the deal, said IFR, a Thomson Reuters publication. It said 
one of the people close to the deal stressed terms were still 
not finalised.   
    A spokesman for construction equipment group Doosan 
Infracore  042670.KS , the largest shareholder in Doosan Bobcat, 
declined to comment on the report. He said a regulatory filing 
is planned for later on Thursday.  
 
($1 = 1,114.7500 won) 
     
 
 (Reporting by Robert Hartley of IFR; Writing by Joyce Lee; 
Editing by Kenneth Maxwell) 
 ((jungyoon.lee@thomsonreuters.com; +82 2 3704 5609; Reuters 
Messaging: jungyoon.lee.thomsonreuters.com@reuters.net)) 
 
Keywords: DOOSAN BOBCAT IPO/