US-based Coronado to list after raising $550m in Australia's biggest coal IPO

US-based Coronado to list after raising $550m in Australia's biggest coal IPO

A Caterpillar Inc. D10T dozer pushes raw coal at the newly opened Ramaco Resources Inc. Stonecoal Alma mine near Wylo, West Virginia, U.S., on Tuesday, Aug. 8, 2017. From 2008 to 2016 production from West Virginia’s southern coalfields fell from 117 million tons to 36.6 million, now, the trend is reversing. With prices tripling over the last year for metallurgical coal, which is used in steel-making and hard to find elsewhere in North America, through mid-April of this year, coal output rose 9 percent in southern West Virginia compared with a year ago, according to the U.S. Energy Information Administration. Photographer: Andrew Harrer/Bloomberg

The owners of miner Coronado Global Resources Inc. raised about A$774 million ($550 million) in Australia’s biggest coal initial public offering after selling securities at the bottom end of the marketed range.

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