Investing.com — The Prague Stock Exchange is preparing itself for its first significant initial public offering (IPO) in more than four years. This happened after Doosan Skoda Power, a steam-turbine manufacturer, revealed its intention to offer a minority stake to the public.

Doosan Skoda Power, a Czech subsidiary of Doosan Enerbility Co. in South Korea, is looking for investors as the central European country moves away from coal and is set to revamp its energy infrastructure. The country’s new energy plans include nuclear, gas-fired, wind, and solar power stations. The company intends to use the funds obtained from the IPO to improve its competitiveness by investing in new machinery and facilities.

According to a statement released on Wednesday, investors have the opportunity to buy up to 33.33% of Doosan’s Czech unit. The offering will consist of approximately 21.5% to 26.5% of the existing shares held by the parent company and approximately 5% to 10% of the ordinary shares to be issued by Doosan Skoda.

The Chief Executive Officer of Doosan Skoda Power, Youngki Lim, expressed his pride in the upcoming IPO. He said in the statement, “It is an honor for us to be introduced to the Czech capital market and link our future more closely to the development of the energy sector and the entire economy of the CEE region.”

If the IPO goes through successfully, it will mark the first listing on the Czech Republic’s main stock market since the 2020 offering of gunmaker Ceska Zbrojovka, now known as Colt CZ Group SE.

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