Doosan Skoda Power Launches IPO, Price Range For Offering Set At CZK 220–260 Per Share
Reuters
27 Jan
Jan 27 (Reuters) - : *DOOSAN SKODA POWER: ANNOUNCES LAUNCH OF IPO *DOOSAN SKODA POWER: PRICE RANGE FOR OFFERING SET AT CZK 220–260 PER SHARE *DOOSAN SKODA POWER CEO: GLAD THAT WE WILL BE PART OF THE PRIME MARKET OF THE PRAGUE STOCK EXCHANGE *DOOSAN SKODA POWER CEO: SELLING SHAREHOLDER DOOSAN POWER SYSTEMS OFFERING UP TO 6,670,000 EXISTING SHARES FROM ITS HOLDINGS, REPRESENTING 23% OF THE EXISTING SHARE CAPITAL *DOOSAN SKODA POWER CEO: OFFERING UP TO 2,900,000 NEW SHARES *DOOSAN SKODA POWER: UP TO 957,000 ADDITIONAL SHARES MAY BE OFFERED IN OVER-ALLOTMENT *DOOSAN SKODA POWER: EXPECTS TO PUBLISH THE FINAL OFFER PRICE ON OR AROUND FEB 6 *DOOSAN SKODA POWER: ASSUMING OFFER PRICE WILL BE AT MIDPOINT OF RANGE, TOTAL VALUE OF OFFERING WILL AMOUNT TO APPROXIMATELY CZK 2.527 BILLION ASSUMING MAXIMUM NUMBER OF SHARES PLACED *DOOSAN SKODA POWER: FOLLOWING THE OFFERING, THE TOTAL NUMBER OF SHARES IN THE COMPANY WILL AMOUNT UP TO 31,900,000 *DOOSAN SKODA POWER: SELLING SHAREHOLDER WILL CONTINUE TO OWN AND CONTROL MAJORITY STAKE IN THE COMPANY OF NO LESS THAN 67% *DOOSAN SKODA POWER: ADOPTED DIVIDEND PAYOUT RATIO POLICY OF AT LEAST 70% OF COMPANY’S NET INCOME
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