Doosan Skoda Power to Pursue Listing on Prague Stock Exchange... Targeting European Nuclear Power Market

Expected Public Offering Amount: 120 to 160 Billion KRW
Funds to Be Raised for Production Facility Upgrades and R&D

Doosan Enerbility's Czech subsidiary, Doosan ?koda Power, is planning an initial public offering (IPO) on the Prague Stock Exchange. This marks the first time a private power generation equipment manufacturer is listed on the Prague Stock Exchange.

Park Jung-won, Chairman of Doosan Group (center). Photo by Kang Jin-hyung

Doosan ?koda Power aims to raise funds through the IPO to prepare for the expansion of the European nuclear power market and to supply capital to its parent company, Doosan Enerbility.

Doosan ?koda Power announced on the 27th that it will hold briefings for investors in Prague and London until the 5th of next month (local time).

The company held an intention to float (ITF) announcement locally in the Czech Republic on the 15th. Doosan ?koda Power plans to start the subscription process after the market closes on the 5th of next month, confirm the listing on the morning of the 6th, and complete the related procedures.

Doosan ?koda Power has supplied more than 540 steam turbines for nuclear power plants across Europe, including the Czech Republic, and is regarded as a forward base for Team Korea's penetration into the European nuclear power market.

Doosan Enerbility stated that the public offering price of Doosan ?koda Power is expected to range between 13,200 KRW and 15,600 KRW per share. The total number of shares offered is projected to be between 9.57 million and 10.52 million, with the total offering amount estimated to be between 120 billion and 160 billion KRW.

The funds raised through this listing will be used to secure growth momentum for both Doosan ?koda Power and its parent company, Doosan Enerbility.

Doosan ?koda Power plans to invest 38 billion to 45 billion KRW raised through the issuance of 2.9 million new shares into production facility improvements and research and development (R&D). This is capital investment in response to the expansion of the European nuclear power market. Doosan Enerbility is expected to secure 85 billion to 120 billion KRW through the sale of existing shares of Doosan ?koda Power.

Doosan Enerbility announced that it plans to use these funds for the development of large nuclear power plants and SMR (Small Modular Reactor) technology, as well as for expanding gas turbine facilities.