Doosan Skoda Power, a Czech subsidiary of Doosan Enerbility, is pushing for an initial public offering (IPO) on the Prague Stock Exchange. Doosan Skoda Power plans to use the funds raised through the IPO to prepare for the expansion of the European nuclear power market in the future. Doosan Enerbility is expected to secure up to 120 billion won from the sale of Doosan Skoda Power's existing shares.
On the 27th, Doosan Skoda Power announced that it would hold a presentation for investors in Prague and London until 5th of next month (local time). After the market closes on the 5th, it plans to begin the subscription process and finalize the listing on the morning of the following day, the 6th.
Doosan Skoda Power is a company that has supplied over 540 steam turbines for nuclear power plants in Europe, including the Czech Republic. This is the first time a private power equipment manufacturer is being listed on the Prague Stock Exchange.
Doosan Enerbility expects the offering price of Doosan Skoda Power to be set between 13,200 won and 15,600 won per share. The total number of shares being offered is estimated to be between 9.57 million and 10.52 million, with the offering amount projected to be between 120 billion and 160 billion won.
The funds raised through this listing are to be used to secure growth momentum for both Doosan Skoda Power and its parent company, Doosan Enerbility. Doosan Skoda Power plans to invest between 38 billion and 45 billion won raised through the issuance of 2.9 million new shares into improving production facilities and research and development.
Doosan Enerbility is expected to secure between 85 billion and 120 billion won through the sale of existing shares of Doosan Skoda Power. Doosan Enerbility plans to use the funds obtained from the sale of existing shares for the development of large nuclear power plants and small modular reactor (SMR) technologies, as well as the expansion of gas turbine facilities.