Ukrainian coal producer Coal Energy targets $130 mln with Warsaw IPO
KYIV. July 6 (Interfax) - Ukrainian coal producer Coal Energy S.A. plans to raise around $130 million by floating 25% of its shares on the Warsaw Stock Exchange (WSE), the company says in its IPO prospectus.
The company, which brings together the assets of Viktor Vishnevetsky's NPO Mekhanik, said it would offer just over 11.25 million new shares.
The upper price is 32 zloty ($11.6) per share. Bids will be accepted July 13-15 and pricing is expected on July 15. The shares would start trading on or around August 4.
Dom Maklerski BZ WBK is co-lead manager and listing agent for the IPO.
The company will invest the proceeds in its development program, including new licenses to bolster coal reserves by 286.9 million tonnes, and possibly new deep mines.
Lycaste Holdings, owned on a 50/50 basis by Viktor and Marina Vishnevetsky, is currently the sole owner of Coal Energy.