Korean construction machinery manufacturer Doosan Infracore said that its subsidiary Doosan Bobcat has decided to offer 1,354 new shares worth 617.2 billion won ($535 million) to affiliate Doosan Engine.
The proceeds from share issuances will be used to improve Bobcat’s finances, Doosan Infracore said in a public disclosure.
Doosan Bobcat, a construction equipment maker, is wholly owned subsidiary of Doosan Infracore. Doosan Heavy Industries & Construction, an infrastructure giant, is the biggest shareholder of Doosan Engine, an internal combustion engine maker, and Doosan Infracore. Bobcat’s auditor is EY Han Young.
By Kim Yoon-mi (
yoonmi@heraldcorp.com)