Doosan Fuel Cell shares dive on smaller $171m block

Korea_USdollar_Adobe_24July
By Jonathan Breen
06 Oct 2020

The share price of Doosan Fuel Cell Co, a subsidiary of South Korean conglomerate Doosan Group, nosedived on Tuesday after affiliates of the parent raised a smaller-than-expected W198.6bn ($171.1m) from a block trade.

Doosan Group chairman Park Jeong-won and his family members launched the sell-down soon after Korean markets closed on Monday, looking to offload up to 10.9m shares in Doosan Fuel Cell, a fuel cell maker. They hired Credit Suisse, KB Securities and Korea Investment & Securities to market the deal.

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