Doosan Bobcat Inc., U.S.-based leading compact construction equipment maker owned by Korea’s Doosan Group, would set the stage for three mega arrivals on the Korean stock market with its Oct. 21 debut expected to draw in more than $2 billion.

Next in the pipeline is equally heavyweight Samsung BioLogics Co. and Netmarble Games Corp.

“We will broaden our product portfolio in the North American and European markets and tap new demand in emerging markets like China and Latin America," said Kim Jong-sun, chief financial officer (CFO) of Doosan Bobcat in a press conference on the corporate vision and initial public offering scheme.

The company targets to up the share of emerging market in total sales from current 5 percent to 10 percent by 2020, he said.

The company will offer 48,981,125 existing shares at a price band between 41,000 won and 50,000 won apiece, making it the second largest IPO in the country after Samsung Life Insurance Co.’s 4.88 trillion won debut in 2010.

Following the IPO that is expected to raise between 2.01 trillion won and 2.45 trillion won, the company’s market capitalization is expected to reach between 4.1 trillion won and 5 trillion won, allowing it to join the top 50 - 60 club in the Korea Composite Stock Price Index (Kospi).

Kim said that the company’s upcoming IPO is expected to allow the company to seek mergers and acquisitions more aggressively and make it easier for the company to expand its presence in emerging markets.

Hanwha Asset Management Co. and other financial investors would sell off their holdings in Doosan Bobcat, or 21.6 percent of the company’s total outstanding shares. Doosan companies also would release another 35 percent stake out of its 78,461,250 shares for the IPO.

Pricing will be determined after book building for two days from Thursday. The shares will be available to retail investors on Oct. 12-13.

Doosan Bobcat’s debut to the main Korean bourse will be followed by other blockbuster entrants, Samsung BioLogics that is expected to fetch more than $2 billion following its IPO in November. The country’s top game maker Netmable Games also aims to make debut on the Seoul bourse by early next year at the latest. The game maker’s market capitalization after its IPO is expected to reach around 10 trillion won.

Doosan Bobcat runs 32 companies across the world. It earned 4.04 trillion won in sales and 385.6 billion won in operating profit last year, its best earnings record since it was acquired by Doosan Infracore Co.

By Park Yun-gu

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