Prague Eyes First Major IPO Since 2020 as Doosan to List Unit
- Turbine manufacturer Doosan Skoda Power to float up to 33.3%
- Sale targets investors as Czechs revamp energy infrastructure
This article is for subscribers only.
The Prague Stock Exchange is preparing for its first major initial public offering in more than four years after steam-turbine manufacturer Doosan Skoda Power announced plans to float a minority stake.
The Czech unit of South Korea’s Doosan Enerbility Co. is tapping investors at a time when the central European country is phasing out coal and preparing to overhaul its energy infrastructure with new nuclear, gas-fired, wind and solar power stations. The company aims to use the funds to boost its competitiveness through measures such as investment in new machinery and facilities.