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Doosan Bobcat seeks US$890m in new IPO, under half of original plan

[SEOUL] South Korean construction equipment maker Doosan Bobcat Inc's revised initial public offering aims to raise up to 990.9 billion won (S$1.226 billion) - less than half of original plans.

Doosan Bobcat's indicative price range is 29,000-33,000 won per share, with 30 per cent of the company to be sold in the listing planned for Nov 18, parent company Doosan Infracore said in a statement.

Doosan Bobcat on Monday cancelled plans for an up to 2.45 trillion won IPO after not gaining the valuations it wanted.

REUTERS