Coal miner Coronado outlines A$1.4B IPO

摘要

U.S.-based Coronado Global Resources Inc. and its unit Coronado Group LLC kicked off an IPO in Australia, according to a Sept. 24 release. Coronado is looking to issue 29 million shares, equivalent to a 30% stake, for proceeds of between A$1.16 billion and A$1.39 billion. The Energy & Minerals Group owns a 98.7% stake in Coronado. Once the IPO closes, it will own a 69.1% stake. The indicative price range for the offering is A$4 to A$4.80 per CHESS Depositary Interest, with 10 CDIs representing 1 share. The price range values the company at A$3.87 billion to A$4.64 billion, according to a prospectus for the offering.