Doosan Skoda Power Becomes First Power Equipment Manufacturer to be Listed on Prague Stock Exchange

Doosan Skoda Power, Doosan Enerbility’s Czech subsidiary, has become the first power equipment manufacturer to be listed on the Prague Stock Exchange. Doosan Enerbility announced on February 6th that Doosan Skoda Power had been listed on the Prague Stock Exchange (PSE) with a “bell ringing” ceremony being held that day to commemorate the event. The ceremony was attended by key figures from the related parties, including Petr Koblic, CEO of the Prague Stock Exchange; Youngki Hong, South Korean Ambassador to the Czech Republic; Sanghyun Park, President & CFO of Doosan Enerbility, and Youngki Lim, CEO of Doosan Skoda Power. Doosan Skoda Power’s offering price has been set as KRW 14,400 per share, resulting in a total offering amount of KRW 151.6 billion. As Doosan Skoda Power is a company that has long been supplying steam turbines, totaling over 540 units, in the Czech Republic and across Europe, it is expected to play a key role in facilitating the Team Korea consortium’s efforts to penetrate the European nuclear market. “It was a great fortune for us to be able to meet Doosan Skoda and work together,” remarked Doosan Enerbility CFO Sanghyun Park in his congratulatory remarks given at the bell ringing ceremony. “It has been 16 years since Doosan Skoda Power joined Doosan Enerbility. Last year, Team Korea had been selected as the preferred bidder for the Dukovany Nuclear Power Plant project. This remarkable achievement was possible because Doosan Skoda Power stays with us by our side. I would like to take this opportunity to express my gratitude and respect to the Czech Republic and Doosan Skoda Power.” Park added,  “In the spirit of ‘From the New World, Symphony No. 9’ by the world-class Czech composer Antonin Dvorak, Doosan Skoda Power will pioneer a new world with Doosan Enerbility. We will provide every support to ensure that Doosan Skoda Power becomes a leading company in not only the Czech Republic, but also in the overall European power generation industry.” The funds raised through this initial public offering (IPO) will be used to secure future growth drivers for Doosan Skoda Power’s parent company, Doosan Enerbility. Doosan Skoda Power plans to issue 2.9 million new shares, through which KRW 41.8 billion will be secured and used in improving production facilities and invested into research & development work.  Through the sale of Doosan Skoda Power’s existing shares (approx.7.63 million shares), a sum of KRW 109.8 billion will be secured. Doosan Enerbility plans to use the proceeds to drive growth through investments in the development of large-scale nuclear power plants, small modular reactors (SMRs) and expansion of gas turbine facilities.