PRAGUE (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, 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, EPH and Orlen, 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)
