September 24, 2018 / 12:27 AM / 3 months ago

Private equity-owned coal miner Coronado to raise up to $946 mln in IPO

SYDNEY, Sept 24 (Reuters) - U.S. private equity-owned coal miner Coronado Coal Group said on Monday it would price shares in its Australian IPO at between A$4.00 ($2.91) and A$4.80 per share, valuing the company at up to A$4.4 billion.

The IPO is likely to be the biggest coal mining float in Australia since Yancoal Australia listed in 2012 at the peak of the country’s mining boom.

The IPO in the Connecticut-based company, owned by U.S. private equity firm The Energy & Minerals Group, is expected to raise up to A$1.3 billion for 30 percent of Coronado, it said in a statement.

$1 = 1.3738 Australian dollars Reporting by Paulina Duran; Editing by Stephen Coates

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