Doosan Engine set to go public next week

December 31, 2010 11:38 am 

SEOUL, Dec. 30 — Doosan Engine Co., an affiliate of South Korean conglomerate Doosan Group, will list its shares on the country's main stock market next week, the bourse operator said Thursday.

Doosan Engine will start trading its shares on the main bourse on Tuesday, according to the Korea Exchange. The initial share price will be set in the 90-200 percent range of its initial public offering price of 19,300 won (US$ 16.9), it added.

Established in 1999, Doosan Engine produces diesel engines for ships and power plants, with its low-speed marine diesel engines claiming about 22 percent of the global market share.

Doosan Engine posted accumulated sales of 1.24 trillion won and a net profit of 37.1 billion won as of end-September this year.

Its major shareholders include Doosan Heavy Industries & Construction Co., South Korea's top power equipment maker, and Samsung Heavy Industries Co., the country's No. 3 shipbuilder. (PNA/Yonhap) DCT/mec

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