Doosan Power Systems sells 17% stake in Doosan Škoda Power

Doosan Power Systems has completed an accelerated sale of approximately 5.423 million shares in Doosan Škoda Power, representing about 17% of the company. The shares were sold to selected qualified institutional investors at a price of 405 CZK per share, totaling approximately 2.2 billion CZK.

The sale price reflects a discount of roughly 10.6% compared to the company's last closing price on the Prague Stock Exchange, which stood at 453 CZK before trading was temporarily suspended. Following the transaction, Doosan Power Systems will remain the majority owner, holding 50% plus one share to maintain control.

Doosan Škoda Power, a manufacturer of steam turbines for nuclear and thermal power plants, has seen significant growth. The company reported that its order volume has nearly doubled year-on-year to 17.9 billion CZK. The manufacturer exports up to 90% of its production and is expected to participate in upcoming nuclear projects, including the Dukovany expansion.