South Korea's Doosan Infracore Co Ltd (042670.KS) said on Friday that it had sold a 20 percent stake in its unlisted China forklift unit to financial investors for 380 billion won ($339.7 million).

Doosan, which acquired U.S. compact construction equipment maker Bobcat Co in 2007, said in a statement that the company would use the proceeds to repay borrowings and expand into emerging markets.

The construction equipment maker plans to list DICC (Doosan Infracore China Corporation) on the Seoul bourse this year, a local newspaper reported late January.