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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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Saturday, 07 November 09
THE STEAM COAL MOVEMENT FROM INDONESIA TO INDIA REMAINED QUITE STRONG - CAPT. REDDY
COALspot.com (Singapore): The BDI continued rising this week and was up by 290 points up by almost 9 pct and the index closed at 3,393 points.
B ...
Friday, 06 November 09
COAL INDIA ABANDONS PLAN TO BUY ASSET IN AUSTRALIA
Coal India’s efforts to acquire a mid-sized virgin thermal coal block from a private party in Australia have drawn a blank.
The effort was ...
Friday, 06 November 09
NEW ASSETS WILL INCREASE COKING AND THERMAL COAL PRODUCTION
Coal and metals processing company Coal of Africa Limited (CoAL) aims to produce 10-million tons a year of coking coal and two-million tons a year o ...
Friday, 06 November 09
NTPC TO APPOINT MERCHANT BANKER FOR S AFRICA COAL MINE
State-run power producer NTPC, which is eyeing coal mines in South Africa to meet the gap in domestic fuel supply, will appoint a merchant banker ne ...
Thursday, 05 November 09
MERCATOR LINES AIMS TO BECOME A $5 BILLION COMPANY
Mercator Lines, India’s second largest private sector shipping line, plans to invest and expand, riding India’s next wave of growth, the ...
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