Doosan to take Bobcat public on South Korean stock market

Earlier this week, Doosan announced that it would begin selling shares in Bobcat on the South Korean Stock Market later this year as part of an initial public offering.

According to a report from Reuters, the IPO could value Doosan Bobcat, the Doosan Infracore subsidiary which controls the Bobcat Company, at more than $2 billion.

The Reuters report says the “move comes as Doosan Bobcat seeks to tap into growth in the North American housing market.”

Doosan did not name an exact date when the IPO would take place or how much money it aims to raise. The company chose to list on the South Korean market due to “lower listing costs, ease of attacking investment and because Doosan Bobcat is based in Korea.”