After one false start in October, Korea's oldest industrial conglomerate completed the first stage of an initial public offering for Doosan Bobcat on Friday.
A scaled-backed 30.028 million share offering for the US farm and construction equipment manufacturer was priced at W30,000 per share, potentially raising W900.85 billion $788.74 million once the domestic retail offering is completed on Wednesday.
This values the company at $2.629 billion based on the issuance of 30% of the company's share capital.
More strikingly, this level is 46.4% lower than the $4.9 billion price tag Doosan successfully bid for Bobcat in June 2007 when it agreed to buy...
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