South Korea Doosan Bobcat to withdraw its current IPO plans, will resubmit
[SEOUL] South Korea's Doosan Bobcat Inc will withdraw its existing initial public offering plans and will resubmit a new plan as soon as possible, the machinery maker's largest shareholder Doosan Infracore Co Ltd said in a regulatory filing on Monday.
Doosan Bobcat conducted bookbuilding last week after setting in September a preliminary price range of 41,000-50,000 won per share for the IPO, which would have allowed the IPO to raise up to 2.45 trillion Korean won (S$3 billion).
Under South Korean exchange rules, Doosan Bobcat has until about February 2017 to list or start the process over.
A Doosan Infracore spokesman declined comment beside the regulatory filing.
REUTERS
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Banking & Finance
Nomura, Mizuho face losses on All Blue fund’s failed trades
Stablecoin Tether steps up monitoring in bid to combat illicit finance
HSBC asked by US$890 billion investor group to set energy goal
Barclays is the latest firm to face anti-ESG wrath in Oklahoma
Barclays prices mortgage-backed notes in deal with GoldenTree
TD risks an earnings hit from US laundering probe, analysts say