Investing.com — The Prague Inventory Alternate is readying itself for its first important preliminary public providing (IPO) in over 4 years. This comes after Doosan Skoda Energy, a steam-turbine producer, revealed its intention to supply a minority stake to the general public.
Doosan Skoda Energy, a Czech subsidiary of South Korea’s Doosan Enerbility Co., is searching for traders because the central European nation transitions away from coal and is ready to revamp its power infrastructure. The nation’s new power plans embrace nuclear, gas-fired, wind, and solar energy stations. The corporate intends to make use of the funds raised from the IPO to boost its competitiveness by investing in new equipment and amenities.
In accordance with a press release launched on Wednesday, traders could have the chance to buy as much as 33.33% of Doosan’s Czech unit. The providing will comprise roughly 21.5% to 26.5% of present shares held by the dad or mum firm and about 5% to 10% of strange shares to be issued by Doosan Skoda.
Doosan Skoda Energy’s Chief Government Officer, Youngki Lim, expressed his satisfaction within the upcoming IPO. He mentioned within the assertion, “It is an honor for us to be introduced to the Czech capital market and to link our future even more closely to the development of the energy sector and the entire economy of the CEE region.”
If the IPO goes by way of efficiently, it is going to mark the primary itemizing on the Czech Republic’s predominant inventory market because the 2020 providing of gunmaker Ceska Zbrojovka, now often known as Colt CZ Group SE.
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