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Monday, 21 December 09
RUSSIAN COAL MINER SUEK EYES '10 LONDON IPO
 * Company valued at around $8-$9 bln - banking source
* IPO could take place in H1 - source
* May list 25 pct of share capital - report
Reuters reported that, SUEK, Russia's largest steam coal producer, is considering an initial public offering (IPO) of shares next year in London, three banking industry sources told Reuters on Monday.
The sources did not say how much SUEK, which is controlled by tycoons Andrei Melnichenko and Sergei Popov, is looking to raise, though one said the entire company was worth between $8 billion and $9 billion.
The same source said the listing would take place in the first half of 2010, while the others said no date had been set.
"There haven't been any good opportunities in this sector for a long time, and the sector is on its way up, so therefore this will be a positive story," one banker said, on condition of anonymity.
Russian aluminium company UC RUSAL is pushing ahead with a $2 billion Hong Kong IPO slated for early 2010, despite a ban on a retail tranche that has reduced the offering to little more than a Russian state bailout.
Two sources said SUEK had yet to decide which banks would lead the IPO. The company could not immediately be reached for comment.
British newspaper The Independent on Sunday cited an unnamed source as saying SUEK could list 25 percent of its shares in London and Moscow in the first half of next year in order to raise money to fund additional projects.
The paper said global heavyweights UBS, Credit Suisse, Morgan Stanley, Goldman Sachs, Citigroup, Deutsche Bank and Bank of America Merrill Lynch were all seeking to participate in the deal.
Russia's VTB and Renaissance Capital had also offered their services to the miner, it added.
SUEK will conduct a second round of interviews with the banks this week and make a final decision shortly thereafter.
The company, which mined 96.2 million tonnes of steam coal last year, originally planned to sell shares to the public in 2008. It abandoned these plans because of the financial crisis, the newspaper wrote.
SUEK is also a major shareholder in a number of Siberian and Far Eastern power companies with total generating capacity of 13 gigawatts.
Source: Reuters
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Wednesday, 16 December 09
INDONESIA'S FIRST PRIVATE RAILWAY TO BOOST RAK'S MINING INTERESTS
MEC infra to invest $1b in construction of 130-km transport link
A 130-kilometre railway that will ease the transport of raw materials and finish ...
Tuesday, 15 December 09
KOMIPO HAS ISSUED A NEW TENDER FOR 30000 MT OF 5200 NAR KCAL/KG COAL
COALspot.com (South Korea): South Korean state-owned utility Korea Midland Power (KOMIPO) has issued an new tender for prompt supply of 30000 M ...
Tuesday, 15 December 09
CHINA CUTS IMPORT DUTIES ON COAL, RAISES FOR OTHERS
China will lower import duties on more than 600 products next year, including coal, naphtha and phosphate ore, the Finance Ministry said on Tuesday. ...
Tuesday, 15 December 09
NTPC'S COAL WOES UNLIKELY TO END SOON
State-owned power producer NTPC’s woes over shortages of coal may not end soon. Though the company is importing 12.5 million tonnes of coal&nb ...
Monday, 14 December 09
RICHARDS BAY COAL TO FINISH EXPANSION IN 1ST QUARTER
Richards Bay Coal Terminal, which ships more than a quarter of Europe’s energy coal, said it will complete its Phase 5 expansion project in th ...
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- Petron Corporation, Philippines
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