Doosan Bobcat

On Sept. 8, Doosan Bobcat Inc. filed a securities registration statement with the Financial Services Commission (FSC) as the company looks to go public. The company’s shares are expected to begin trading on Oct. 21.

The company will offer 48,981,125 shares at 41,000 won to 50,000 won apiece ($37-$45.) It will gauge demand for the share sale from Oct. 6 to Oct. 7, and take orders from Oct. 12 to Oct. 13. Korea Investment & Securities Co. and JPMorgan Chase & Co. are leading the initial public offering (IPO). Hanwha Investment & Securities Co., Shinyoung Securities Co., Credit Suisse Group AG and HSBC Holdings Plc. are also helping to arrange the share sale.

Doosan Bobcat is a compact construction equipment maker that has its global headquarters in South Korea and 31 overseas units in 20 countries. Introducing the world’s first skid-steer loader, Doosan Bobcat is a pioneer in the compact construction equipment market and enjoys a solid leadership position in the North American market.

Last year, Doosan Bobcat posted its best performance since the company was acquired by Doosan Infracore —generating 4.4 trillion won in sales and 385.6 billion won in operating profit. In the first half of 2016, Doosan Bobcat generated sales of 2.15 trillion won and 234.8 billion won in operating profit. Its operating margin increased from 9.54 percent in 2015 to 10.92 percent in the first half of this year.

“We have built a solid business foundation on the back of firm housing market growth in North America, our core market, and the expansion of high-end product sales,” said a Doosan Bobcat official. “Going forward, our priorities are on reinforcing competitiveness in emerging markets by supplying locally-customized products and building a sales service network.”