Doosan Skoda Power raised 151.6 billion won ($115 million) in its initial public offering on the Prague Stock Exchange, marking the first power equipment listing in the Czech market.
The Czech unit of South Korea’s Doosan Enerbility sold shares at 14,400 won each, with 2.9 million new shares generating 41.8 billion won for production upgrades and research. The parent company will receive 109.8 billion won from selling 7.63 million existing shares to fund nuclear power and small modular reactor development.
The listing follows Doosan Skoda’s role in helping secure preferred bidder status for the new Dukovany nuclear plant project in the Czech Republic last year. Park Sang-hyun, president of Doosan Enerbility, cited the 16-year partnership between the companies as key to their expansion in steam turbine technology.
The Prague Stock Exchange CEO Petr Koblic and Korean ambassador Hong Young-ki attended the bell-ringing ceremony. The event highlighted growing Korean-Czech cooperation in the power generation sector, though the companies face increasing competition in the nuclear and renewable energy markets.
Doosan Enerbility aims to use the proceeds to strengthen its position in nuclear technology as global demand for zero-emission power sources rises.
