AAG Energy revives HK IPO

AAG Energy Holdings, which produces energy from natural gas found in coal, is seeking to rekindle its initial public offering ambitions and raise up to $363 million.

AAG Energy's first bid to tap public markets in December 2012 was unsuccessful.

This time around the privately held coalbed methane company has already locked in five cornerstone investors who have pledged $229 million in total, or 63% of the total dealsize.

Cornerstones include Shenzhen Tongyu Gas, private equity firm Addor Capital and Sichuan Datong Gas.

AAG Energy will offer 761.4 million shares at an indicative price range of HK$3 to HK...