[THE INVESTOR] Doosan Bobcat, the South Korean firm that controls U.S. construction machinery-maker Bobcat, received preliminary exchange approval to float its shares on the main KOSPI market, Korea Exchange announced Aug. 16.

With the bourse operator’s green light, the company will proceed with one of this year’s largest initial public offerings, along with those of Samsung BioLogics and Netmarble Games, which are also seeking KOSPI listings in the second half of 2016.

Doosan Infracore and Doosan Engine 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.


Doosan Infracore didn‘t provide details about its fundraising plan through the IPO, but Seoul-based analysts said Doosan Bobcat could have an estimated market valuation of about 4 trillion won (US$3.66 billion).

By Park Han-na (hnpark@heraldcorp.com)