Doosan stocks down after Bobcat IPO delay

The stocks of the Doosan Group companies have fallen, following news of a delay to the anticipated listing of Doosan Bobcat.

On October 10, Doosan Infracore shares were down over 13% on the previous day, while Doosan Engine, Doosan Corp and Doosan Heavy Industries were down between 6% and 12%.

A spokesman for the company said, "There were several factors for our decision to postpone the IPO, including an excessive amount of shares to float. Although we were assured a certain amount of demand, it was hard for us to find a point at which all stakeholders could be satisfied."

It now seems likely that the Doosan Bobcat IPO will either take place in November or be held over until January next year.