Citigroup (NYSE:C), Bank of America (NYSE:BAC), Deutsche Bank (NYSE:DB) and ENAM Securities are lead underwriters for the IPO of Coal India, which is expected to raise about $3 billion for the company.
Coal India, which is the largest coal producing company in the world, generated about $10 billion in revenue in 2009, mostly from non-coking coal, which is sold to the larger power generators in the Asian country.
Over 50 percent of the energy needs of India is provided by coal.
Coal India has an estimated 64 billion tons of overall coal resources, with 11 billion tons of proven reserves.
The coal mining company is owned by the Indian government.
Showing posts with label IPO. Show all posts
Showing posts with label IPO. Show all posts
Monday, October 18, 2010
Thursday, September 16, 2010
Citigroup (NYSE:C), Bank of America (NYSE:BAC) Hired for Statoil (NYSE:STO) Unit IPO
Statoil ASA (NYSE:STO) has reportedly hired Citigroup (NYSE:C), Bank of America (NYSE:BAC) and ABG Sundal Collier Holding ASA to manage the initial public offering of their fuel and retail unit, according to a Bloomberg report.
Responding to declining reserves in the North Sea, Statoil is selling the stake in Statoil Retail & Fuel ASA to fund expansion to other regions of the world.
Expectations are the offering will generate as much as $1 billion, which would be the largest IPO in Norway since 2006.
Statoil applied for the IPO to the Oslo stock exchange on September 2, and if approved, will have 45 days to conduct the listing, based on the rules of the exchange.
Responding to declining reserves in the North Sea, Statoil is selling the stake in Statoil Retail & Fuel ASA to fund expansion to other regions of the world.
Expectations are the offering will generate as much as $1 billion, which would be the largest IPO in Norway since 2006.
Statoil applied for the IPO to the Oslo stock exchange on September 2, and if approved, will have 45 days to conduct the listing, based on the rules of the exchange.
Wednesday, September 1, 2010
Goldman (NYSE:GS), Citigroup (NYSE:C), UBS (NYSE:UBS) Leading PetroAlgae (OTC:PALG) IPO
You know the times are changing when banking giants like Goldman (NYSE:GS), Citigroup (NYSE:C) and UBS (NYSE:UBS) become leads on a relatively small IPO like PetroAlgae (OTC:PALG), which will raise up to $200 million.
PetroAlgae is a highly speculative company trying to create oil from algae, and which has lost about $58 million over the last three years.
Another bio-fuel developer, Gevo Inc., is also being underwritten by Goldman and UBS, among other, this one for an even smaller $150 million.
With the extremely weak economy, IPOs have been slow this year, and Goldman so far has only underwritten on average $225 million for each one. Close to 10 years ago it was over three times that much per offering.
Citgroup has experienced almost the exact same ratio of decline, dropping to $220 million on average for each IPO in 2010, dropping form $655 million a decade ago.
What is a negative for the giant financial institutions is great news for companies like PetroAlgae, who probably could have never lined up an underwriting team like they have now in better economic times.
When communicated with regulators about planning to launch an IPO in the early part of August, they didn't give any date as to when it will happen. That means it could be years before it is brought to market.
Being already traded over the counter, when they do get listed, it'll be thorough what is called a reverse merger, which is a complicated process which is equivalent to an IPO.
PetroAlgae is a highly speculative company trying to create oil from algae, and which has lost about $58 million over the last three years.
Another bio-fuel developer, Gevo Inc., is also being underwritten by Goldman and UBS, among other, this one for an even smaller $150 million.
With the extremely weak economy, IPOs have been slow this year, and Goldman so far has only underwritten on average $225 million for each one. Close to 10 years ago it was over three times that much per offering.
Citgroup has experienced almost the exact same ratio of decline, dropping to $220 million on average for each IPO in 2010, dropping form $655 million a decade ago.
What is a negative for the giant financial institutions is great news for companies like PetroAlgae, who probably could have never lined up an underwriting team like they have now in better economic times.
When communicated with regulators about planning to launch an IPO in the early part of August, they didn't give any date as to when it will happen. That means it could be years before it is brought to market.
Being already traded over the counter, when they do get listed, it'll be thorough what is called a reverse merger, which is a complicated process which is equivalent to an IPO.
Friday, August 13, 2010
Biofuel Isobutanol Producer Gevo Files for IPO
For the second time this week, a biofuel company has filed for an initial public offering, this time Gevo Inc., which develops and sells isobutanol.
PetroAlgae filed for an initial public offering on Wednesday.
The reason these companies are filing for an IPO are the weak capital markets, which make risky ventures like these not attractive at all to investors and funds.
Money raised by Gevo will be primarily be used to acquire ethanol facilities which they'll adapt to their needs. They'll also use it for working capital and other general business purposes.
Isobutanol can be used as a replacement for fossil fuels in products like rubber, plastics, and hydrocarbon fuels.
According to the company, isobutanol can be used in gas powered engines with no need to modify anything.
The IPO could raise up to $150 million for them.
PetroAlgae filed for an initial public offering on Wednesday.
The reason these companies are filing for an IPO are the weak capital markets, which make risky ventures like these not attractive at all to investors and funds.
Money raised by Gevo will be primarily be used to acquire ethanol facilities which they'll adapt to their needs. They'll also use it for working capital and other general business purposes.
Isobutanol can be used as a replacement for fossil fuels in products like rubber, plastics, and hydrocarbon fuels.
According to the company, isobutanol can be used in gas powered engines with no need to modify anything.
The IPO could raise up to $150 million for them.
Friday, March 19, 2010
IronPlanet Files for IPO
IronPlanet IPO
Online heavy equipment reseller IronPlanet Inc. has filed for a $92 million IPO according to filings with the U.S. Securities and Exchange Commission.
IronPlanet is a pure Internet play focusing on auctioning off used agricultural and construction equipment around the world. While there are no specific figures from the currently privately held company, it is estimated their sales are in the hundreds of millions annually.
What is known are the revenue and profits generated by the company, with revenue in 2008 to 2009 growing from $35 million to $54.7 million. Profits in 2009 stood at $12.9 million, a major increase from profits of $1.9 million in 2008.
This seem to show the extremely low overhead and costs the company incurs, at least with the 2009 contrast between revenue and profits, which were extraordinary if you project them out.
The difference in 2008 contrast between revenue and profit was much less successful, probably related to a learning curve and marketing the company in the early stages.
IronPlanet IPO
Online heavy equipment reseller IronPlanet Inc. has filed for a $92 million IPO according to filings with the U.S. Securities and Exchange Commission.
IronPlanet is a pure Internet play focusing on auctioning off used agricultural and construction equipment around the world. While there are no specific figures from the currently privately held company, it is estimated their sales are in the hundreds of millions annually.
What is known are the revenue and profits generated by the company, with revenue in 2008 to 2009 growing from $35 million to $54.7 million. Profits in 2009 stood at $12.9 million, a major increase from profits of $1.9 million in 2008.
This seem to show the extremely low overhead and costs the company incurs, at least with the 2009 contrast between revenue and profits, which were extraordinary if you project them out.
The difference in 2008 contrast between revenue and profit was much less successful, probably related to a learning curve and marketing the company in the early stages.
IronPlanet IPO
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