August 28, 2018 / 8:41 AM / 3 months ago

Private equity firm plans IPO of A$3 bln Coronado Coal in Australia

MELBOURNE, Aug 28 (Reuters) - U.S. private equity firm Energy and Minerals Group (EMG) plans to sell a A$1 billion ($732 million) stake in Coronado Coal to the public and list the coal mining company in Australia, two people with knowledge of the plan said on Tuesday.

The initial public offering, expected to value the whole company at around A$3 billion, 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. ($1 = 1.3669 Australian dollars) (Reporting by Sonali Paul; Editing by Muralikumar Anantharaman)

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