{"id":4728,"date":"2016-07-05T21:11:59","date_gmt":"2016-07-05T21:11:59","guid":{"rendered":"http:\/\/minutes.machine.market\/?p=4728"},"modified":"2016-07-05T21:11:59","modified_gmt":"2016-07-05T21:11:59","slug":"doosan-bobcat-applies-for-ipo-approval-in-south-korea","status":"publish","type":"post","link":"https:\/\/machine.market\/blog\/doosan-bobcat-applies-for-ipo-approval-in-south-korea\/","title":{"rendered":"Doosan Bobcat applies for IPO approval in South Korea"},"content":{"rendered":"<p><a href=\"http:\/\/www.bobcat.com\/\" target=\"_blank\" rel=\"noopener noreferrer\">Doosan Bobcat Inc.<\/a>, a unit of power and construction equipment conglomerate <a href=\"http:\/\/www.doosanequipment.com\/\" target=\"_blank\" rel=\"noopener noreferrer\">Doosan<\/a>, has applied for preliminary approval for its initial public offering planned for this year, the country&#8217;s main bourse said Tuesday.<\/p>\n<p><a href=\"http:\/\/www.doosaninfracore.com\/en\/main.do\" target=\"_blank\" rel=\"noopener noreferrer\">Doosan Infracore Co.<\/a> and <a href=\"http:\/\/www.doosanengine.com\/en\/main.do\" target=\"_blank\" rel=\"noopener noreferrer\">Doosan Engine<\/a> collectively own a majority 78.4 percent stake in Doosan Bobcat, which operates 31 subsidiaries in 20 countries. Doosan Bobcat is a leading player in the small-sized construction machinery sector in the United States and Europe, the main exchange said in a statement.<\/p>\n<p>Doosan Infracore didn&#8217;t provide details about its fundraising plan through the IPO and the exact market shares in the two major markets.<\/p>\n<p>The IPO plan is part of Doosan Group&#8217;s efforts to improve its financial status. The power-to-construction equipment conglomerate has raised trillions of won by selling assets in recent years to survive a prolonged slump in the construction industry.<\/p>\n<p>Last year, Doosan Bobcat posted a net profit of 148.1 billion won ($129 million) on sales of 4.04 trillion won, the statement said.<\/p>\n<p>In 2007, Doosan Infracore acquired Bobcat and other construction equipment units from North Carolina-based <a href=\"http:\/\/company.ingersollrand.com\/ircorp\/en\/index.html\" target=\"_blank\" rel=\"noopener noreferrer\">Ingersol Rand PLC <\/a>for $4.9 billion.<\/p>\n<p>JP Morgan and Korea Investment &amp; Securities Co. are the lead managers for the IPO. (Yonhap)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Doosan Bobcat Inc., a unit of power and construction equipment conglomerate Doosan, has applied for preliminary approval for its initial public offering planned for this year, the country&#8217;s main bourse said Tuesday. Doosan Infracore Co. and Doosan Engine collectively own a majority 78.4 percent stake in Doosan Bobcat, which operates 31 subsidiaries in 20 countries. [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":4731,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":""},"categories":[2,8],"tags":[462],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v14.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Doosan Bobcat applies for IPO approval in South Korea - MachineMarket Blog<\/title>\n<meta name=\"robots\" content=\"index, follow\" \/>\n<meta name=\"googlebot\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta name=\"bingbot\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cranemarket.com\/blog\/doosan-bobcat-applies-for-ipo-approval-in-south-korea\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Doosan Bobcat applies for IPO approval in South Korea - MachineMarket Blog\" \/>\n<meta property=\"og:description\" content=\"Doosan Bobcat Inc., a unit of power and construction equipment conglomerate Doosan, has applied for preliminary approval for its initial public offering planned for this year, the country&#8217;s main bourse said Tuesday. Doosan Infracore Co. and Doosan Engine collectively own a majority 78.4 percent stake in Doosan Bobcat, which operates 31 subsidiaries in 20 countries. 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