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
Great Eastern chairman appeals for patience as shareholders fume over share price ‘disaster’
S&P Global first-quarter profit beats estimates on strong product demand
Thai banks cut rate for some borrowers after push from PM
Money laundering accused who faces 22 charges to plead guilty on May 14
BNP Paribas beats estimates as lower costs offset trading slump
Japan brokerage Daiwa’s Q4 profit more than doubles as markets recover